bp has announced the signing of a Memorandum of Understanding (MoU) to evaluate opportunities for a five-well programme at water depth ranging from 300 to 1,500 meters in the Mediterranean Sea.<\/p>\n\n\n\n
The programme is designed to accelerate the development and production of national gas reserves, with the intent of extending the use of existing production facilities in the West Nile Delta. Drilling operations are expected to start in 2026, with possible tie-back options following evaluation of the drilling campaign and resource potential.<\/p>\n\n\n\n
The MoU was signed during the visit of H.E. Karim Badawi, Minister of Petroleum and Mineral Resources; H.E. Ashraf Swelam, Egypt\u2019s Ambassador to the UK; and Dr. Geo. Samir Raslan, Undersecretary for Exploration and Agreements at the Ministry of Petroleum and Mineral Resources, to bp\u2019s headquarters in London.<\/p>\n\n\n\n
The delegation met with Murray Auchincloss, bp\u2019s chief executive officer; William Lin, executive vice president for gas and low carbon energy; Nader Zaki, regional president, Middle East and North Africa; and Wail Shaheen, president of bp Egypt. The signing underscores the strength of the long-standing partnership between bp and the Egyptian government.<\/p>\n\n\n\n
Nader Zaki, regional president for the Middle East and North Africa, added:\u202f\u201cWe are\u202fproud of our longstanding partnership with the Egyptian government. This memorandum\u202frepresents a strategic step in our investments in Egypt\u2019s energy sector during this decade,\u202fenabling us to develop additional gas resources in the West Nile Delta and bring them\u202fonstream as quickly as possible to meet the needs of the local market.\u201d<\/p>\n\n\n\n
The agreement comes as bp plans to increase production to 2.3-2.5 million barrels of oil equivalent a day in 2030 with the capacity to increase production out to 2035.\u202fIt follows a successful exploration campaign in the first half of 2025 in which bp has made 10 discoveries including two in Egypt, where it completed drilling activity at the Fayoum-5 gas discovery well and El King-2 exploration well, both part of the West Nile\u202fDelta development.<\/p>\n\n\n\n
bp has been operating in Egypt for more than 60 years. Through strategic partnerships and sustained investments, the company continues to play a pivotal role in developing the country\u2019s energy resources.<\/p>\n","protected":false},"excerpt":{"rendered":"