Posted by Lara Lynn Golden, News Editor
Wednesday, January 31 - 2007 at 17:01 UAE local time (GMT+4)
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This article was updated on Mon Apr 30 2007.
The North Alexandria concession is in the Mediterranean, offshore the city of Alexandria. The Giza North-1 well was drilled in 668 metres of water, some 56 kilometres offshore.
BP Egypt has already made a number of discoveries since 2000 in this concession. Giza North - 1 was drilled in the pliocene formation where BP Egypt has made four previous discoveries: Taurus, Libra, Ruby and Fayoum. The company has also made the Raven discovery in the deeper pre-pliocene formation.
BP operates and holds 60 per cent of the North Alexandria concession with RWE Dea holding the remaining 40 per cent contractual interest in the block. EGPC/ EGAS has an entitlement under the concession's production sharing arrangements.
Further enquiries:
Sherif Selim, BP Egypt office: +202 706 2259
BP press office, London: +44 (0) 20 7496 4076
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