Beach Petroleum Says Potential For Egypt Oil Output By 1st Half 2010
25 November 2009 - 2:38PM
Dow Jones News
Beach Petroleum Ltd. (BPT.AU) said Wednesday it could start
producing oil in Egypt in the first half of 2010 after it
experienced promising flow rates from a development well in the
Gulf of Suez.
Beach said the NS377-3 oil field development well in the North
Shadwan block flowed at rates of 1,400 barrels of oil per day,
which it said points to likely production of 1,500 to 2,000
bopd.
"The North Shadwan project is on target to achieve first
production by the June quarter of 2010," Chief Executive Officer
Hector Gordon said in a statement.
Beach holds 20% in the block along with operator BP PLC
(BP).
-By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957;
ross.kelly@dowjones.com
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