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

BP PLC

(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 EDT

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 277 B
EBIT 2019 20 613 M
Net income 2019 12 050 M
Debt 2019 42 714 M
Yield 2019 5,38%
P/E ratio 2019 12,97
P/E ratio 2020 10,85
EV / Sales 2019 0,71x
EV / Sales 2020 0,68x
Capitalization 154 B
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Number of Analysts 22
Average target price 8,07 $
Spread / Average Target 7,0%
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NameTitle
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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