BP drills deepwater exploration well offshore Egypt
Egypt BP has a 100-percent working interest in this high pressure, high temperature well, being drilled using Maersk Discoverer in 923 metres of water to a total depth of approximately 7,400 metres.
The drilling activity is expected to continue into the summer of 2015. It marks newfound investor confidence from international companies in a market still rebounding from revolution and political instability, thanks to the assurances made by the Ministry of Petroleum to pay back $2 billion-3 billion of more than $6 billion in debt by the end of 2014.
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