The EGY-MED-E8 (East Port Said) block, where bp holds a 33% interest, Qatar Energy holds another 33%, and Eni serves as the operator with a 34% interest, is located in the Mediterranean Sea, approximately 50-90 kilometers from Post Said city.
Covering an area of approximately 2620 square kilometers, the block features water depths up to 700 meters. The initial work program for the first exploration period involves drilling one exploration well and reprocessing existing seismic data.
Nader Zaki, bp's Regional President for the Middle East and North Africa, emphasized the significance of this new block award, stating, "Last year, bp was awarded four new blocks and extended an existing one. This year's award reaffirms bp's commitment to securing more resilient hydrocarbon resources to meet Egypt's growing energy demand. We are capitalizing on exploration opportunities strategically located around existing infrastructure."