BP Egypt’s Taurus/Libra gas fields to start output in 2017

Britain’s BP Plc (BP.L) currently produces around 30 percent to Egypt’s total natural gas production, said its regional president for North Africa.

The BP-operated Taurus/Libra gas fields in West Nile Delta project will start production in 2017, Hesham Mekawi, Regional President, BP North Africa, said in an oil event in Alexandria Tuesday.

Earlier, BP announced in January that it aimed to double natural gas production in Egypt in the next four years despite weak oil prices as Egypt’s burgeoning energy market offers hope for its battered economy.

In Egypt, major discoveries such as Zohr, a Mediterranean gas field discovered by Eni in August, have kept companies interested in maintaining strong positions in the region, where massive deposits are believed to remain untapped.