Port Harcourt — Bp has signed a Memorandum of Understanding (MoU) to evaluate opportunities for a five-well program at water depth ranging from 300 to 1,500 m in the Mediterranean Sea.
The agreement comes as bp plans to increase production to 2.3-2.5 million boed in 2030 with the capacity to increase production out to 2035. It follows a successful exploration campaign in the first half of 2025 in which bp has made 10 discoveries including two in Egypt, where it completed drilling activity at the Fayoum-5 gas discovery well and El King-2 exploration well, both part of the West Nile Delta development.
The program is designed to accelerate the development and production of national gas reserves, with the intent of extending the use of existing production facilities in the West Nile Delta. Drilling operations are expected to start in 2026, with possible tie-back options following evaluation of the drilling campaign and resource potential.
The MoU was signed during the visit of Karim Badawi, Minister of Petroleum and Mineral Resources; Ashraf Swelam, Egypt’s Ambassador to the UK; and Dr. Geo. Samir Raslan, Undersecretary for Exploration and Agreements at the Ministry of Petroleum and Mineral Resources, to bp’s headquarters in London.
The delegation met with Murray Auchincloss, bp’s chief executive officer; William Lin, executive vice president for gas and low carbon energy; Nader Zaki, regional president, Middle East and North Africa; and Wail Shaheen, president of bp Egypt. The signing underscores the strength of the long-standing partnership between bp and the Egyptian government.
“Today’s announcement reaffirms our commitment to supporting investment in Egypt’s gas sector. We appreciate the continued engagement and support from Minister Karim Badawi,” said William Lin, executive vice president for gas and low carbon energy. “We look forward to applying bp’s technological expertise to build on our recent exploration and development momentum to bring on new gas resources and accelerated production for the country as well as deliver value for our business.”
“We are proud of our longstanding partnership with the Egyptian government,” said Nader Zaki, regional president for the Middle East and North Africa. “This memorandum represents a strategic step in our investments in Egypt’s energy sector during this decade, enabling us to develop additional gas resources in the West Nile Delta and bring them onstream as quickly as possible to meet the needs of the local market.”
