H.E. Eng. Sameh Fahmy, Minister of Petroleum has signed on Thursday 2 June 2005 two new concession agreements entered by EGAS for El Burullus offshore and North El Burg blocks with BP and BP/IEOC respectively. The two blocks lie in water depths of less than 100 meters.


Burullus offshore has an area of about 1,309 square kilometers and lies west of the producing Ha’py field. During the exploration period BP Egypt is committed to drill five wells and to spend $140 million in addition to $10.5 million signature bonus.


North El Burg has an area of 1,250 square kilometers and lies in the central part of the Nile Delta. BP and IEOC are committed to drill three wells and to spend $63 million on exploration activities in addition to $3 million signature bonus.