BP Egypt hits significant gas discovery in the Nile Delta named Satis
The Satis discovery is located in the North El Burg Offshore, Nile Delta concession, some 50 kilometres north of Damietta. The well was drilled to a Nile Delta record depth of more than 6,500 metres and is the first significant high-pressure, high-temperature, offshore Oligocene discovery. Satis is a major technical achievement that demonstrates the great potential of the deeper reservoirs within the Nile Delta and will require further appraisal.
The parties to the North El Burg offshore concession agreement are: BP, operator (50 per cent) and IEOC, the affiliate of Italy's ENI in Egypt (50 per cent). Satis was drilled by the Constellation II jack-up rig, in a water depth of 90 metres.
Andy Inglis, BP's chief executive of Exploration & Production said: "This is a significant discovery, which will underscore our position as a major producer in the growing Egyptian gas market for many years to come."
