26th Apr 2021 10:24
(Alliance News) - BP PLC on Monday said it completed the USD9 billion West Nile Delta project in Egypt after starting production at a delayed field.
The Raven field, off Egypt's Mediterranean coast, was due to start production in 2019 but the discovery of corrosion during commissioning work caused significant delays, industry publication Upstream reported in 2020.
Raven is the third and final phase of West Nile Delta development. The first two phases, consisting of two gas fields each, started production in 2017 and 2019. BP is the operator and owns an 83% stake in West Nile Delta, with the remainder held by Wintershall Dea GmbH.
In total, West Nile Delta has a gas processing capacity of 1.4 billion standard cubic feet of gas per day. Raven is currently producing 600 million scf/d, and has the potential for 900 million scf/d as well as 30,000 barrels per day of condensate.
"Completing this major multi-stage development in the face of many challenges is testament to BP’s long-term commitment to Egypt and our excellent working relationships with partners and the government," BP Chief Executive Bernard Looney said.
Shares in the UK energy giant were up 0.3% to 293.05 pence in London.
Earlier on Monday, BP announced it started production at a gas field in India earlier than scheduled.
The Satellite Cluster gas field is the second of three developments in the KG D6 block to come onstream, and was originally due to start production in mid-2021. BP has a one-third participating interest in the block, while operator Reliance Industries Ltd has two-thirds.
The block is expected to produce 1 billion cubic feet per day by 2023, meeting up to 15% of India's gas demand, BP said. The third development is scheduled to come onstream in the second half of 2022.
By Ivan Edwards; [email protected]
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