Latest news with #NaderZaki
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:
Zawya
06-03-2025
- Business
- Zawya
BP successfully completes drilling at El Fayoum-5 gas discovery well in North Alexandria Offshore Concession
bp has announced the successful completion of drilling operations at the El Fayoum-5 gas discovery well in the North Alexandria Offshore Concession, marking the final well in its four-slot drilling campaign in the West Nile Delta (WND). Drilled using the Valaris DS-12 rig, El Fayoum-5 was spudded on February 14, 2025, and encountered four prospective Messinian gas reservoirs, with a total sand thickness of 50 meters at a measured depth of approximately 2,860 meters. Plans are underway to tie back the discovery to the existing onshore Giza/Fayoum infrastructure as part of the West Nile Delta project. This marks bp's second consecutive gas discovery in recent months, following the successful El King-2 well in the North King Mariout Offshore Concession. Nader Zaki, bp Regional President for the Middle East and North Africa, stated:"Since January 2024, our offshore drilling operations have remained uninterrupted. This successful discovery of Fayoum-5, following the recent achievement of El King-2 and the startup of Raven second phase, further underscores bp's long-term commitment to timely invest in Egypt and support its growing gas domestic demand as a strategic partner for the country Energy sector." Wail Shaheen, VP bp Egypt, added:"Our focus remains on maximizing production from existing resources, exploring new opportunities, and making full use of our infrastructure to ensure a reliable gas supply that meets Egypt's increasing domestic demand. The success of this latest exploration—our second following El King—highlights the strategic advantage of its proximity to existing infrastructure in the West Nile Delta, enabling a fast tie-back and accelerated production." The WND Gas Development consists of 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 included the development of eight subsea wells, located up to 65 km offshore, at water depths ranging from 550 to 700 meters. bp, the project operator, holds an 82.75% stake, while Harbour Energy owns the remaining 17.25%.
Asharq Al-Awsat
17-02-2025
- Business
- Asharq Al-Awsat
BP Starts Production at Second Phase of Egypt's Raven Field
British energy giant, BP, announced on Sunday the start of production from the second development phase of the Raven field, offshore Egypt, which involves the subsea tieback of additional Raven infill wells to its existing onshore infrastructure as part of the West Nile Delta (WND) project. BP, the operator, holds an 82.75% stake in the project, while Harbour Energy owns the remaining 17.25%. The new wells are expected to produce approximately 220 billion cubic feet of gas and 7 million barrels of condensate, the company said in a statement. The project was safely executed ahead of schedule, allowing for an accelerated start of production. Nader Zaki, BP Regional President for the Middle East and North Africa, said: 'This further demonstrates BP's commitment to investing in Egypt.' Wail Shaheen, VP BP Egypt, said: 'This series of achievements embodies our ongoing commitment to helping meet the increasing local energy demand by optimizing production from available resources while adding new ones.' The West Nile Delta Gas Development comprises a series of gas condensate fields located offshore Egypt, within the North Alexandria and West Mediterranean Deepwater concessions.
Zawya
17-02-2025
- Business
- Zawya
BP says production starts at second phase of Egypt's Raven field
CAIRO: BP has started production from the second development phase of the Raven field offshore Egypt, the global oil company said on Sunday. BP said in a statement that the new wells are set to produce approximately 220 billion cubic feet of gas and 7 million barrels of condensate. Egypt has been struggling with a decline in natural gas output and in September 2024 its domestic supplies fell to a seven-year low. The decline has turned the country back into being a net importer, buying dozens of cargoes, but it has been in talks with international oil and gas companies to increase their investments to offset the natural decline. "The focus of the Raven Infills project has been to fight natural decline and increase production while maximizing our existing infrastructure to meet Egypt's domestic market demand at pace," Nader Zaki, BP Regional President for the Middle East and North Africa, said. (Reporting by Menna Alaa El-Din and Mohamed Ezz; Editing by Angus MacSwan)
Daily News Egypt
16-02-2025
- Business
- Daily News Egypt
BP begins gas production from second development phase of Egypt's Raven field
BP has commenced production from the second development phase of the Raven field, a key component of the West Nile Delta (WND) project. This phase involves the subsea tieback of additional Raven infill wells to BP's existing onshore infrastructure. As the project operator, BP holds an 82.75% stake, with Harbour Energy owning the remaining 17.25%. The newly developed wells are expected to yield approximately 220 billion cubic feet of gas and 7 million barrels of condensate. The project was executed safely and ahead of schedule, enabling an accelerated production start. Nader Zaki, BP's Regional President for the Middle East and North Africa, stated: 'Since January 2024, we have not stopped drilling for a single day. The focus of the Raven Infills project has been to counter natural decline, enhance production, and maximize our existing infrastructure to meet Egypt's domestic energy demand efficiently. This achievement underscores BP's commitment to investing in Egypt, made possible through our strong partnership with the Ministry of Petroleum, EGPC, and EGAS.' Wail Shaheen, VP of BP Egypt, said: 'The safe start-up of this project follows our recent success with the El King exploration well. These milestones reflect our ongoing dedication to meeting rising local energy needs by optimizing production from existing resources while continuing to explore new ones.' The WND Gas Development consists of multiple gas condensate fields 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, at depths ranging from 550 to 700 meters.
