By OGJ editors
HOUSTON, July 19 -- BP PLC and RWE Dea plan the $9 billion development of gas fields on the North Alexandria and West Mediterranean Deep concessions in Egypt’s Nile Delta offshore.
RWE Dea said the project is to begin production in 2014. The company’s share of reserves is more than 50 billion cu m.
The concessions include the Raven fields in the high pressure-high temperature regime on the West Mediterranean Deep concession. Most of the funds will be spent on the North Alexandria concession.
Production is to plateau starting in 2015 at more than 3 bcm/year. The first-phase production period is to last 20 years. Development of further gas potential, including already discovered gas volumes on the concessions, will take place in a second phase.
RWE Dea holds 13 onshore and offshore concessions that cover 13,300 sq km in Egypt.
