MOSCOW (Pakistan Point News / Sputnik - 28th July, 2020) France's Total oil and gas company, the United Kingdom's BP oil and gas giant and Italy's Eni oil and gas giant have discovered a new gas field on the North El Hammad block on the shelf of Egypt, Total said in a press release on Tuesday.
"Total, bp and Eni (as the Operator) have made a gas discovery with the Bashrush well on the North El Hammad license, located eleven kilometers off the Egyptian coast," the press release said.
The well is expected to produce up to 100 million cubic feet per day, as well as up to 800 barrels of condensate per day. The partners plan to develop a new field within the nearby existing production infrastructures.
"We are very pleased to announce this discovery in Egypt. These results support our strategy to allocate a significant share of our exploration budget to the search of hydrocarbons in the vicinity of existing infrastructures," Senior Vice President Exploration at Total Kevin McLachlan said, as quoted in the press release, adding that the resources have low development costs, as they can rapidly be tie-in and put into production.
The operator, Eni, and British BP each own 37.5 percent in the North El Hammad project, while Total holds a working interest of 25 percent.
