CAIRO -- BP announced today another gas discovery in the North Damietta Offshore Concession in the East Nile Delta, Egypt. The Qattameya Shallow-1 exploration well was drilled to a total depth of 1,961 metres in water depth of approximately 108 metres using the El Qaher II jack-up rig. The wireline logs, pressure data and fluid samples confirmed the presence of 37 metres of net gas pay in high quality Pliocene sandstones. Options to tie the discovery back to nearby infrastructure are being studied.
Bob Dudley, BP Group Chief Executive, commented: “Qattameya marks our third discovery in the block where we are already developing the Atoll field and appraising the Salamat discovery. This latest discovery confirms our belief that the Nile Delta is a world-class basin.”
Commenting on the discovery, Hesham Mekawi, BP North Africa Regional President, said: “We are delighted to sustain our success in these shallow Pliocene targets. We believe development of Qattameya could help unlock the resources in other nearby discoveries with similar shallow low pressure characteristics. This is part of our long-standing commitment to Egypt and to unlocking Egypt’s energy potential.”
Qattameya Shallow-1 well is located 60 kilometres north of Damietta city, 30 kilometres south west of Salamat and only 35 kilometres to the west of Ha’py offshore facilities. BP has 100% equity in the discovery.
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In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’), BP is providing the following cautionary statement. This press release contains certain forward-looking statements concerning BP’s belief that development of Qattameya could help unlock other resources; and expectations regarding gas and condensate resources, production from Atoll and the destination of produced gas. Actual results may differ from those expressed in such statements, depending on a variety of factors including changes in public expectations and other changes to business conditions; the timing, quantum and nature of divestments; the receipt of relevant third-party and/or regulatory approvals; future levels of industry product supply; demand and pricing; OPEC quota restrictions; PSA effects; operational problems; regulatory or legal actions; economic and financial conditions generally or in various countries and regions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; exchange rate fluctuations; development and use of new technology; the success or otherwise of partnering; the actions of competitors, trading partners and others; natural disasters and adverse weather conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed under “Principal risks and uncertainties” in our Stock Exchange Announcement for the period ended 30 June 2016 and under "Risk factors" in our Annual Report and Form 20-F 2015.
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