bp to launch 2 exploratory wells in Egypt’s Mediterranean by early 2025
Updated 11/13/2024 7:57:00 AM
Arab Finance: bp Plc will initiate the drilling of two exploratory natural gas wells in Egypt’s West Delta region at the Mediterranean Sea in January 2025, an unnamed government source told Asharq Business.
The drilling works are set to be executed with investments estimated at $160 million, the official source added.
This is part of bp’s plan to explore new gas-bearing layers within the West Delta region, with the potential to expedite production if viable reserves are confirmed, he noted.
The driller is now at the operations site, preparing for the start of drilling works in early January, the source pointed out.
Egypt, which currently needs approximately 6.2 billion cubic feet of natural gas daily, aims to increase its daily production from 4.6 billion cubic feet to 5 billion cubic feet by the end of the year.
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