British Petroleum (BP) has announced the production of first gas from the Seth development block 15 weeks ahead of schedule
The US$334 million project is located 60km offshore Ras el Bar, east of the Nile Delta. The Seth field is being developed through six wells and production is already being funneled through El Gamil gas terminal, situated east of Portsaid.
The first two wells accessing the western part of the Seth reservoir have been estimated to yield 170 million cubic feet per day (MMcf/d) and excavate around 240 billion cubic feet of gas. Two additional platform wells are intended to be used by the company to attain gas in the eastern part of the field.
The output at Seth is projected to grow over 250 MMcf/d, once the wells have been commissioned by the end of 2012. The operation of the Seth block has been assigned to Belayim Petroleum (Petrobel), a joint-venture company between Italian operator Eni and Egyptian General Petroleum Corporation (EGPC).
Through Eni’s subsidiary, the International Egyptian Oil Company (IEOC), the company holds 25 per cent interest in the block. BP holds a 25 per cent interest in the block, with the remaining 50 per cent held by the EGPC.
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