Arab Finance: Egypt's petroleum sector and bp are teaming to bring the Fayoum North-4 well in the Mediterranean Sea into production soon, as per a statement issued by the Ministry of Petroleum and Mineral Resources.
The offshore well is expected to produce about 80 million cubic feet of natural gas per day (MMcf/d), supporting the ministry’s efforts to boost local production and strengthen energy supplies.
This follows bp’s successful execution of a sidetrack drilling operation under its ongoing drilling program, enabling the well to be brought back into production from new reservoir intervals without the need to drill a new well. The approach is expected to reduce development costs and accelerate production.
Work teams also overcame the technical challenges of reactivating the well, completing all operations in accordance with the highest safety and operational efficiency standards. The drilling reached the targeted reservoir layers at depths exceeding 3,000 meters.
Earlier in March, bp rolled out plans to inject new investments estimated at $1.5 billion in Egypt's natural gas exploration and development during fiscal year (FY) 2026/2027.
