Project Profile
Value: Undisclosed
Location: 31 miles (50 kilometres) to the north of Damietta
Water Depth: 285 feet/ 87 metres
Start-up Year: -
North El Burg was awarded to BP Egypt in June 2005 and is located in the central part of the Nile Delta between the Ras El Barr, BP-operated development concession and the Offshore Baltim development concession operated by IEOC. The concession covers 483 square miles (1,250 square kilometres) of shallow water ranging from 197 to 328 feet (60 to 100 metres) deep.
In late August 2012, gas discoveries were made in Taurt North and Seth South. These are the fourth and fifth discoveries made by BP in the concession following Satis-1 and Satis-3 Oligocene deep discoveries and Salmon-1 shallow Pleistocene discovery.
BP Egypt is committed to drilling no less than one well and to spend a minimum of US$23 million on exploration activities during the first three years of the concession. The parties to the North El Burg Offshore Concession agreement are the operator, BP and the equal partner, IEOC each with 50% interest.
Operators:
BP: Operator with 50% interest
International Egyptian Oil Company (IEOC): 50% interest