Arab Finance: UK-based oil and gas firm bp Plc is drilling two natural gas and condensates development wells at its West Raven field, one of the offshore West Nile Delta fields, with investments estimated at $200 million, as per a statement.

With the completion of the new wells, dubbed West Raven-4 and West Raven-5, the company's total daily production is expected to increase by 200 million cubic feet of gas and 8,000 barrels of condensates within the third quarter of fiscal year 2024/2025.

The Egyptian Minister of Petroleum Karim Badawi has inspected the construction works of the two wells that fall under the petroleum sector’s plan for natural gas and condensates development at the offshore West Nile Delta fields.

bp is also planning to invest $120 million to drill two wells in its Giza and Fayoum fields across the Mediterranean after drilling the two wells at West Raven field.

World Bank cuts forecast for Egypt’s GDP growth in FY2024/25 Updated 10/17/2024 7:39:00 PM

CBE keeps interest rates steady Updated 10/17/2024 7:38:00 PM

Egypt-Spain development investment portfolio hits $867M in 2023 Updated 10/17/2024 3:22:00 PM

Egypt’s EDA fills 95% of medicine shortage so far Updated 10/17/2024 12:51:00 PM

Private Saudi firms to invest $15B in Egypt over 3 years Updated 10/17/2024 9:23:00 AM