BP Begins Gas Production from Egypt's Taurus, Libra Fields Ahead of Schedule
May 10 2017 - 11:57AM
Dow Jones News
By Razak Musah Baba
LONDON--BP PLC (BP.LN) said Wednesday it has started gas
production from the first two fields, Taurus and Libra, of the West
Nile Delta development in Egypt.
The oil giant said the project was delivered eight months ahead
of start-up schedule and under budget.
The West Nile Delta development, which includes five gas fields
across the North Alexandria and West Mediterranean Deepwater
offshore concession blocks, is being developed as two separate
projects to enable BP and its partners to accelerate gas production
commitments to Egypt.
BP is the operator of the West Nile Delta project, with 82.75%
equity in the project partnership; DEA Deutsche Erdoel AG holds the
remaining 17.25% interest.
BP shares at 1612 GMT up 6 pence, or 1.3%, at 461 pence, valuing
the company at GBP90.80 billion.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
May 10, 2017 11:42 ET (15:42 GMT)
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