Latest news with #King-2
Al-Ahram Weekly
06-03-2025
- Business
- Al-Ahram Weekly
British Petroleum completes drilling Fayoum-5 gas well in North Alexandria Offshore Concession - Economy
Global energy giant British Petroleum (BP) announced Thursday that it has completed drilling operations at the Fayoum-5 gas discovery well in the North Alexandria Offshore Concession. A company statement indicated that this marks the conclusion of BP's four-slot drilling campaign in the West Nile Delta (WND) region. The drilling of the Fayoum-5 well started on 14 February this year using the Valaris DS-12 rig. During the drilling process, the well encountered four prospective Messinian gas reservoirs with a total sand thickness of 50 metres at a measured depth of approximately 2,860 metres. BP plans to tie back this discovery to the existing onshore Giza/Fayoum infrastructure as part of the broader West Nile Delta project. This discovery follows BP's recent success at the King-2 well in the North King Mariout Offshore Concession, marking the company's second consecutive gas discovery in recent months. "Since January 2024, our offshore drilling operations have remained uninterrupted. This successful discovery of Fayoum-5, following the recent achievement of King-2 and the startup of the Raven second phase, further underscores BP's long-term commitment to timely investment in Egypt," Nader Zaki, BP's regional president for the Middle East and North Africa, expressed. "It also highlights the company's support for its growing domestic gas demand as a strategic partner in the country's energy sector," he added. Meanwhile, Wail Shaheen, vice president of BP Egypt, emphasized the company's focus on maximizing production from existing resources while exploring new opportunities. "The success of this latest exploration — our second following King-2 — highlights the strategic advantage of its proximity to existing infrastructure in the West Nile Delta, enabling a fast tie-back and accelerated production," Shaheen stated. The WND Gas Development encompasses a series of gas condensate fields located offshore Egypt within the North Alexandria and West Mediterranean Deepwater concessions. The Raven field, the final phase of the WND project, has been in production since early 2021. Its initial phase involved the development of eight subsea wells situated up to 65 km offshore in water depths ranging from 550 to 700 metres. BP is the project operator, holding an 82.75 percent stake, while Harbour Energy owns the remaining 17.25 percent. Egypt's gas production fell to an eight-year low in 2024, reaching 4.87 billion cf/d, according to a report by the Middle East Economic Survey (MEES). The output of the offshore Mediterranean fields, where the Zohr and other smaller fields are located, dipped by 18 percent through the year to reach 3.54 billion cf/d, its lowest in six years. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
16-02-2025
- Business
- Al-Ahram Weekly
Raven Wells Development Project 2nd phase starts production in Egypt: British Petroleum
British Petroleum (BP) announced the start of production in the second phase of the Raven Wells Development Project, which connects additional offshore wells to the facilities established at the onshore Raven station of the West Nile Delta Project. BP, the project operator, holds an 82.75 percent stake, while Harbour Energy owns 17.25 percent. The new wells are expected to contribute approximately 220 billion cubic feet of gas and seven million barrels of condensate. The Raven Wells Development Project's drilling programme was completed ahead of schedule, accelerating the start of production. 'Since January 2024, we have not stopped drilling for a single day. The Raven Wells Development Project aims to counter natural decline and increase production, utilizing our existing infrastructure to meet local market needs as quickly as possible," said Nader Zaki, BP's regional president for the Middle East and North Africa. "This reaffirms BP's commitment to investing in Egypt, supported by our strong and enduring partnership with the Ministry of Petroleum, the General Petroleum Company, and the Egyptian Natural Gas Holding Company,' he added. "The start of production in this project follows our recent announcement of the successful drilling operations at the exploration well King-2," noted Wail Shaheen, vice president of BP Egypt. "This series of successes represents our ongoing commitment to contributing to the growing local demand for energy by maximizing production from available resources and adding new resources," he stressed. The West Nile Delta Project includes several gas fields off Egypt's northern coast, in the northern part of Alexandria and the deep-water areas of the Mediterranean Sea. The Raven field is the project's final phase, which began production in early 2021. Its development included eight offshore wells up to 65 km from the shore, ranging from 550 to 700 metres. Short link:
