In an exciting new development for Egypt’s energy sector, British energy giant BP has inked a deal to drill five offshore natural gas wells in the Mediterranean. This agreement was officially announced by Egypt’s Petroleum Ministry and emphasizes the country’s robust partnership with BP, a pivotal player in its energy landscape.
Energy Minister Karim Badawy was present for the signing, which sets the stage for BP’s next phase of exploration and development within its established concessions in Egypt’s favorable offshore areas. As one of the leading natural gas producers in the region, BP’s commitment to this project signals its ongoing confidence in Egypt’s energy market.
Scheduled to kick off drilling operations in 2026, BP will utilize the advanced DS-12 deepwater rig, operated by Valaris, to explore waters ranging from depths of 300 to 1,500 meters. This sophisticated technology underscores BP’s determination to enhance efficiency in extracting these valuable resources.
This new venture follows a significant memorandum of understanding (MoU) signed last month in London between BP and the Egyptian Natural Gas Holding Company (EGAS). Together, they’re committed to accelerating gas production and expanding Egypt’s offshore natural gas reserves, positioning the country as a leading regional energy hub.
Nader Zaki, BP’s Regional President for the MENA region, hailed the agreement as a strategic milestone that will significantly bolster domestic energy needs. Echoing these sentiments, Wael Shahin, BP Egypt’s President, expressed enthusiasm about the project’s potential to maintain production levels in the West Nile Delta well beyond 2030. The collaboration illustrates a strong collective effort among BP, EGAS, and Harbour Energy, BP’s investment partner in the West Nile Delta, according to Sameh Sabry, MENA Managing Director at Harbour Energy.
As Egypt continues to evolve into a central gas hub, it aims to enhance production capabilities and lessen reliance on imports, particularly in response to growing domestic demand and seasonal spikes in consumption. The program, which includes a mix of sidetrack, development, and exploration wells, aims to leverage existing infrastructure efficiently, promising exciting developments for the Egyptian energy landscape in the years ahead.
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