Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of a drilling contract between bp and Valaris for five new natural gas wells in Egypt’s Mediterranean Sea, the ministry stated.

The wells will be drilled in bp's concessions at depths ranging from 300 to 1,500 meters, using Valaris’ DS-12 deepwater rig.

Operations are scheduled to begin in 2026. The program includes lateral, development, and exploratory wells to accelerate the production and development of gas reserves in the region, while benefiting from existing offshore and onshore infrastructure in the West Nile Delta.

Badawi said bp is one of Egypt’s key strategic partners in natural gas production, noting that its recent projects in the Mediterranean have contributed to increasing domestic output and securing additional resources during peak summer demand.

He added that the ministry continues to support bp’s projects to ensure the steady addition of gas to domestic production and the discovery of new reservoirs, thereby strengthening Egypt’s energy capacity and reducing imports.

The new program follows bp’s exploration campaign in the first half of 2025, which led to two discoveries: Fayoum-5 and King-2 in the West Nile Delta Basin. 

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