No 23



BP Announces Major Gulf Of Suez Oil Discovery

BP Egypt confirmed on 29 May that the Saqqara well on the Gulf of Suez LL87 concession was a major discovery. BP said that mean reserve estimates for the well, located 7km west of Gupcos al-Morgan field facilities and 2km west of the 2001 Edfu Nubia discovery, were likely to be around 80mn barrels. Annual average plateau flow rates from a development are likely to be between 40,000 and 50,000 b/d of oil, BP said in a...