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bp has signed a Memorandum of Understanding (MoU) to guage alternatives for a five-well program at water depth starting from 300 to 1,500 m within the Mediterranean Sea.
This system is designed to speed up the event and manufacturing of nationwide gasoline reserves, with the intent of extending the usage of current manufacturing amenities within the West Nile Delta. Drilling operations are anticipated to start out in 2026, with potential tie-back choices following analysis of the drilling marketing campaign and useful resource potential.
The MoU was signed throughout the go to of H.E. Karim Badawi, Minister of Petroleum and Mineral Assets; H.E. Ashraf Swelam, Egypt’s Ambassador to the UK; and Dr. Geo. Samir Raslan, Undersecretary for Exploration and Agreements on the Ministry of Petroleum and Mineral Assets, to bp’s headquarters in London.
The delegation met with Murray Auchincloss, bp’s chief government officer; William Lin, government vice chairman for gasoline and low carbon vitality; Nader Zaki, regional president, Center East and North Africa; and Wail Shaheen, president of bp Egypt. The signing underscores the energy of the long-standing partnership between bp and the Egyptian authorities.
“Immediately’s announcement reaffirms our dedication to supporting funding in Egypt’s gasoline sector. We admire the continued engagement and help from H.E. Minister Karim Badawi,” stated William Lin, government vice chairman for gasoline and low carbon vitality. “We stay up for making use of bp’s technological experience to construct on our latest exploration and improvement momentum to convey on new gasoline assets and accelerated manufacturing for the nation in addition to ship worth for our enterprise.”
“We’re pleased with our longstanding partnership with the Egyptian authorities,” stated Nader Zaki, regional president for the Center East and North Africa. “This memorandum represents a strategic step in our investments in Egypt’s vitality sector throughout this decade, enabling us to develop extra gasoline assets within the West Nile Delta and produce them onstream as shortly as potential to fulfill the wants of the native market.”
The settlement comes as bp plans to extend manufacturing to 2.3-2.5 million boed in 2030 with the capability to extend manufacturing out to 2035. It follows a profitable exploration marketing campaign within the first half of 2025 through which bp has made 10 discoveries together with two in Egypt, the place it accomplished drilling exercise on the Fayoum-5 gasoline discovery nicely and El King-2 exploration nicely, each a part of the West Nile Delta improvement.
bp has been working in Egypt for greater than 60 years. Via strategic partnerships and sustained investments, the corporate continues to play a pivotal function in creating the nation’s vitality assets.
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