Arab Finance: Drilling vessel Valaris DS-12 has arrived in Egyptian territorial waters as part of a program aimed at drilling four new wells for bp and Arcius Energy, according to a statement.
The vessel is set to drill one production well and one exploratory well for bp, followed by the drilling of two exploratory wells for Arcius Energy, a joint venture (JV) of bp and UAE-based ADNOC.
Such a move reflects the growing confidence of international partners in Egypt’s investment climate in the petroleum sector, in light of the incentive measures implemented by the Ministry of Petroleum and Mineral Resources.
These efforts support the ministry’s plans to expand exploration, development, and production activities in the gas sector. This includes drilling more than 100 exploration wells in 2026, in addition to development wells in existing fields.
The ambitious plans aim to maximize the utilization of oil and gas resources and achieve discoveries that will bolster Egypt's production capacity.
