By the OGJ Online Staff
LONDON, July 13 -- BP PLC has made its fifth gas find in 2 years in the western Nile Delta with the Libra K-1x well in the North Alexandrian Concession Area off the north coast of Egypt.
The well, in 450 m of water, discovered gas in five separate zones, one of which was tested as rate of 22.3 MMscfd with a gas condensate ratio of 7.6 bbl/MMscf. BP noted that the flow rate was constrained by testing equipment.
First estimates are that the well encountered around 50 m of conventional pay, proving combined reserves of 500 bcf.
BP's five gas finds have proved reserves of more than 2 tcf. The concession partners -- BP with 60% and Germany's RWE-DEA AG with 40% -- plan to drill at least another three wells in the western Nile Delta over the next year, including a first well in the West Mediterranean Deep Water Concession Area later this year.
BP became operator of the that area on July 5 with the acquisition of TotalFinaElf SA's 50% interest in the concession.
