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Share Name Share Symbol Market Type Share ISIN Share Description
British Petroleum LSE:BP. London Ordinary Share GB0007980591 $0.25
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.20p -0.40% 541.30p 541.20p 541.30p 544.40p 537.90p 544.40p 6,730,709 12:51:40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 238,179.2 15,195.5 11.0 49.5 108,032.66

BP Announces First Gas at Second Stage of West Nile Delta Project

11/02/2019 9:56am

Dow Jones News


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By Oliver Griffin

 

BP PLC (BP.LN) said Monday that it has reached first gas production at the second stage of its West Nile Delta development offshore Egypt, keeping it on track to produce 900,000 barrels of oil equivalent a day by 2021.

The U.K. oil-and-gas major said the milestone was the second in a string of new upstream major projects expected to be brought online in 2019.

Peak production at the second stage of the West Nile Delta is expected to be around 700 million cubic feet of gas a day, the company said.

BP said that when fully on-stream later in the year, combined production from all three phases at the West Nile Delta is expected be around 1.4 billion cubic feet of gas a day, representing around 20% of Egypt's current gas production.

The company has an 82.8% operating stake in the development. BP said all the gas produced will be fed into Egypt's national gas grid.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

February 11, 2019 04:41 ET (09:41 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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