11th Feb 2019 10:33
LONDON (Alliance News) - BP PLC on Monday said first gas has commenced from the second stage of the West Nile Delta project offshore Egypt.
The deepwater project is taking gas from the Giza and Fayoum fields, and is the second upstream project to come online for BP in 2019.
BP is expecting peak production of around 700 million cubic feet of gas per day.
"This important project start-up benefitted from the excellent working relationship between BP and the Egyptian government. We simply could not have delivered it successfully without the steadfast support of the Minister of Petroleum, his excellent team and the entire government," said BP's Chief Executive Bob Dudley.
"With the second stage of West Nile Delta now online, BP has now safely brought 21 new upstream major projects into production over the last three years, keeping us on track to deliver 900,000 barrels of oil equivalent per day by 2021."
Last week, BP reported 2018 underlying replacement cost profit, the oil major's preferred metric, at USD12.72 billion, up from USD6.17 billion in 2017. Market consensus had seen a figure of USD11.88 billion.
BP shares were 1.2% higher on Monday at a price of 550.30 pence each.
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