BP finds natural gas in Egypt

Oct. 26, 2011 at 7:42 AM
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CAIRO, Oct. 26 (UPI) -- British energy company BP announced it made its third natural gas discovery in its concessions in shallow water off the coast of Egypt.

BG Egypt, the British supermajor's affiliate in the North African country, announced it made a natural gas discovery near the Nile Delta. It's third in the region.

Pressure readings confirmed the presence of natural gas. The company said it was appraising the resources from the find, dubbed Salmon.

Hesham Mekawi, president and general manager of BP Egypt, said the discovery would provide a stimulus to the Egyptian natural gas business.

"The success of Salmon highlights the great potential of the shallow reservoirs within the Nile Delta and helps unlock additional resources in surrounding acreage," he said in a statement.

The energy company said drilling operations were carried out by an affiliate of Italian energy ENI. The well was drilled in depths of around 285 feet of water.

The U.S. Energy Information Agency reports that major natural gas discoveries in Egypt put the country just behind Nigeria and Algeria in terms of African gas producers with around 58.5 trillion cubic feet of proven gas reserves.

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