The parties to the Ras El Bar Offshore concession agreement are BP Egypt, the operator with a 50% interest, and IEOC, the affiliate of Italian energy major Eni in Egypt, with the remaining 50% stake.
The Taurt project is an offshore development with a subsea production system, two subsea wells, and a 70km pipeline and control umbilical back to upgraded facilities at the existing West Harbor processing plant.
Andy Inglis, BP’s CEO of exploration and production, said: Taurt is another major project delivered successfully. It will contribute to BP’s production profile for the next decade and beyond. Egypt is an important growth area with further potential.
