Egypt's West Nile Delta Project On The March

BP Egypt announced the completion of its acquisition of 22.75% in the North Alexandria Concession and 2.75% in the West Mediterranean Deep Water Concession from Hamburg-based DEA. 

‘The acquisition will bring BP’s working interest in both concessions of the West Nile Delta project to 82.75 per cent’ reads a statement released by the UK-headquartered company. 

BP and DEA are the two shareholders in Egypt’s West Nile Delta project. The two partners signed the final agreements with Egyptian authorities in March 2015.  

The project involves the development of 5 trillion cubic feet of gas resources and 55 million barrels of condensates. The overall investment for Phase I is estimated at $12 billion.