CAIRO – bp today announced the start of gas production from its latest development offshore Egypt – the Qattameya gas field in the North Damietta offshore concession.
Through bp’s joint venture, Pharaonic Petroleum Company (PhPC), the field, which is expected to produce up to 50 million cubic feet of gas per day, has been developed through a one-well subsea development and tie-back to existing infrastructure.
Karim Alaa, regional president, North Africa, bp
Karim Alaa, bp’s North Africa regional president, said: “By building on bp’s significant existing assets and infrastructure offshore Egypt, we were able to develop Qattameya efficiently and economically. Creating value through high quality, efficient oil and gas developments is a key part of bp’s strategy. We see this as a great example of resilient hydrocarbons development.
“We are proud to have brought this project safely onstream through an extremely challenging period. Our team continues to work to support Egypt realising the potential of its energy resources, adding to our track-record of delivery and enabled by our established partnerships with the Egyptian petroleum sector.”
Qattameya, whose discovery was announced in 2017, is located approximately 45 km west of the Ha’py platform, in 108 metres of water. It is tied back to the Ha’py and Tuart field development via a new 50km pipeline and is also connected to their existing subsea utilities via a 50 kilometre umbilical.
bp holds 100% equity in the North Damietta offshore concession in the East Nile Delta. Gas production from the field is directed to Egypt’s national grid.
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 – that is, statements related to future, not past events and circumstances – which may relate to one or more of the financial condition, results of operations and businesses of bp and certain of the plans and objectives of bp with respect to these items. These statements are generally, but not always, identified by the use of words such as 'will', 'expects', 'is expected to', 'aims', 'should', 'may', 'objective', 'is likely to', 'intends', 'believes', 'anticipates', 'plans', 'we see' or similar expressions. Actual results may differ from those expressed in such statements, depending on a variety of factors including the risk factors set forth in our most recent Annual Report and Form 20-F under "Risk factors" and in any of our more recent public reports.
This document contains references to non-proved resources and production outlooks based on non-proved resources that the SEC's rules prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosures in our Form 20-F, SEC File No. 1-06262.
Our most recent Annual Report and Form 20-F and other period filings are available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov.