Crude oil production from the NS377 field, located in the concession area of North Shadwan, commenced on the 13th of March 2012.  Oil supermajor British Petroleum and the Australian company Beach Energy have announced that initial production from the well will be restricted to approximately 1,000 barrels of oil per day.

Production will be transferred via a tie-in to Petrobel’s nearby RasGhara plant for treatment then piped to the main Petreco Oil Center.

The North Shadwan joint venture partners have applied for a development lease over the NS394 oil discovery with the development expected to commence in 2013. Production from NS394 is anticipated to start in 2014 at an expected flow rate of up to 7,000 barrels of oil per day.

BP is the operator of the North Shadwan concession, holding a 50% equity interest. Beach Energy holds a 20% interest and Egypt-based company TriOcean Energy owns the remaining 30%.