BP Holds On In Deepwater Mediterranean - Africa’s premier report on the oil, gas and energy landscape.

BP Holds On In Deepwater Mediterranean

BP is delaying its plans to plunge into the geologically high risk deepwater Meditteranean. The British major is changing the rig,” and will likely drill offshore in 2011.”

BP is due to drill at least five wells in the Gulf of Sirte. The company is changing rigs from one owned by Noble Corp., to a new one, currently being prepared in the Gulf of Mexico, which is owned by-Pride- International Inc.

Results of drilling in deepwater Libya have been mixed, with Hess making modest gas discoveries and ExxonMobil coming out entirely dry. In nearby Egypt, deepwater Mediterranean has favoured BG in NEMED but has proved disappointing for Shell.

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