British oil major BP has received two oil exploration blocks offshore Nile Delta, Egypt, in the Mediterranean Sea.
The blocks, called the Northwest Abu Qir Offshore Area and Bellatrix-Seti East block, have been awarded by Egyptian state-owned company Egyptian Natural Gas Holding Company (EGAS).
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BP owns an 82.75% operatorship stake in Northwest Abu Qir Offshore Area while Wintershall-Dea owns the remaining 17.25% stake.
Located west of the BP-owned North King Mariout block, the Northwest Abu Qir Offshore Area covers an area of approximately 1038km².
BP holds a 50% stake in the 3440km² Bellatrix-Seti East block, located west of the Atoll field and North Tabya blocks. The remaining stake is held by Italian firm Eni.
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BP gas and low carbon energy executive vice-president Anja-Isabel Dotzenrath said: “Egypt has long been important for BP, with almost 60 years of successful partnership and more than $35bn invested.
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By GlobalData“We now look forward to an even more successful future, continuing to help meet Egypt’s growing energy needs by providing cost-competitive supplies of gas and supporting Egypt through the energy transition by exploring growth opportunities in hydrogen, for example.”
In 2022, BP was awarded the North El Fayrouz offshore area, King Mariout Offshore Area, and the North El Tabya area extension.
BP regional president for Egypt, Algeria, and Libya Karim Alaa said: “We have been awarded four new exploration blocks and a block extension in 2022, which offer the potential for gas discoveries that could be developed using existing infrastructure. Acquiring this acreage is part of our strategy to maintain a longer-term plateau production rate.”
Earlier this year, Bloomberg News reported that BP was considering selling oil assets in Mexico to shift its focus towards renewable energy in the country.
