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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BP    BP.   GB0007980591

BP

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BP : UK's BP begins gas production from Egypt's West Nile Delta stage two

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02/11/2019 | 07:40pm EST

The second stage produces around 400 mmscfd

Cairo – Mubasher: London-based BP plc on Monday announced that it has started gas production from the second stage of its West Nile Delta megaproject in Egypt.

The second stage, which covers eight wells, produces around 400 million cubic feet of gas a day (mmscfd) and is expected to reach 700 mmscfd, according to a press release.

Stage three is set to begin with the development of Raven field projected to start production by the end of 2019, the British oil and gas producer added.

The West Nile Delta project includes the development of five gas fields across the North Alexandria and West Mediterranean Deepwater offshore concession blocks, the press said.

Stage two has started production from the Giza and Fayoum development, which will add to phase one’s output that began production from the fields of Taurus and Libra in 2017.

Egypt aims to become a regional energy hub and make gas self-sufficiency.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 276 B
EBIT 2019 20 805 M
Net income 2019 12 598 M
Debt 2019 41 867 M
Yield 2019 5,76%
P/E ratio 2019 12,10
P/E ratio 2020 10,70
EV / Sales 2019 0,67x
EV / Sales 2020 0,65x
Capitalization 143 B
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Number of Analysts 23
Average target price 8,02 $
Spread / Average Target 14%
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Robert W. Dudley Group Chief Executive Officer & Executive Director
Helge Lund Chairman
Andy Hopwood Group COO, Executive VP-Strategy & Regions
Brian Gilvary Group Chief Financial Officer & Executive Director
David Eyton Group Head-Technology
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