British BB announces a new gas statement in Egypt

The British company BB announced the success of drilling operations in the “Fayoum-5” exploratory well in the Mamariyah area north of Alexandria, to be the last well as part of the four-well drilling campaign in the West Nile Delta project.

The company said that the drilling operations resulted in the discovery of four potential gas tanks at a depth of 2860 meters, and this discovery is expected to be linked to the existing land facilities affiliated with the West Nile Delta project occupied by BP.

The company added that the discovery of “Fayoum-5” is its second discovery in the region after the “King-2” gas, located in the northern King Mariout franchise.

The West Delta project includes several gas fields located off the coast of northern Egypt, within the privileges of northern Alexandria and the deep water area in the western Mediterranean. The Rivin field is the last stage of the project, where production began in the beginning of 2021, including the development of eight marine wells extending to a distance of up to 65 km from the beach, and at depths ranging between 550 and 700 meters. BP, the project operator, owns 82.75%, while Harbor Energy owns 17.25%. (CNBC)