Egypt

Egypt Signs Major Gas Exploration Agreement with BP to Drill 5 New Wells in the Mediterranean

Published on : 2025-09-08

London — Egypt’s Minister of Petroleum and Mineral Resources, Eng. Karim Badawi, witnessed the signing of a Memorandum of Understanding between the Egyptian Natural Gas Holding Company (EGAS) and BP at BP’s London headquarters.

Under the MoU, the parties will evaluate the prospects for drilling five exploratory natural-gas wells in the Mediterranean Sea at water depths ranging from 300 to 1,500 meters. The drilling campaign is planned to start next year. The program is designed to accelerate the development and production of natural-gas reserves by leveraging existing infrastructure in the West Nile Delta, with the option to tie back any new discoveries to current facilities following assessment of drilling results and potential resources.

The agreement was signed in the presence of H.E. Ambassador Ashraf Sweilam, Egypt’s Ambassador to the United Kingdom. Dr. Samir Raslan, Undersecretary for Agreements and Exploration, signed on behalf of Eng. Mahmoud Abdelhamid, Chairman of EGAS, alongside Eng. Wael Shahin, President of BP Egypt. Also attending were Murray Auchincloss, Chief Executive Officer of BP; William Lin, BP Executive Vice President; and Nader Zaki, Regional President for the Middle East & North Africa.

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The event was attended by Eng. Mohamed Hassan Kandil, Chairman and Managing Director, senior executives, managers, and a large number of employees, along with the outstanding sons and daughters of Egypt Gas.

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The Minister stressed the importance of expediting the implementation of strategic projects, particularly the ozoris and Atoll fields, and connecting their production to the national grid, reaffirming the Ministry’s full support for this direction.