BP new offshore find

British Petroleum (BP) Egypt announced a new natural gas find north of Delta in the company's concession area north of Alexandria. The find is the fourth of its kind in the area, as three were earlier made in 2000 and 2001. The new well is 40 km north of the Egyptian North Coast at 150 metres depth.

The company director, Hisham Mekawi said the new well is a turning point in Egyptian natural gas industry. A final estimation of the find will be conducted within the coming few weeks.