BP has signed the West Nile Delta project todevelop 5 tcf of gas resources and 55 mmbbls of condensates.

BP has signed the final agreements of the West Nile Delta project to develop 5 trillion cubic feet (tcf) of gas resources and 55 million barrels (mmbbls) of condensates with an estimated investment of around $12 billion by BP and its partner. The project underlines BP's commitment to the Egyptian market and is a vote of confidence in Egypt's investment climate and economic potential.

Production from WND is expected to reach up to 1.2 billion cubic feet a day (bcf/d), equivalent to about 25 per cent of Egypt's current gas production and significantly contribute to increasing the supply of energy in Egypt. All the produced gas will be fed into the country's national gas grid, helping to meet the anticipated growth in local demand for energy. Production is expected to start in 2017.

Tags: BP PLC