Egypt

Egypt: BP to Boost Gas Production by 200 MMcf/d

Published on : 2024-09-16

Engineer Karim Badawy, Egypt's Minister of Petroleum and Mineral Resources, met with Engineer Nader Zaki, BP's Regional Manager for the Middle East and North Africa, and Engineer Wael Shaheen, BP's Egypt Vice President.

The meeting highlighted BP's strategic plans in Egypt for the coming period, focusing on fast-tracking exploration and production activities, as well as field development in the Mediterranean. The primary goal is to gradually increase production rates in key operational areas.

Minister Badawy expressed the Egyptian government’s full support for BP’s expansion plans and investment programs in the country, recognizing the company as a strategic partner in the exploration and development of Egypt’s natural gas resources. He emphasized ongoing efforts to create an attractive investment environment, encouraging global companies to invest in the Egyptian market through appealing opportunities that enhance domestic oil and gas production, ultimately reducing dependency on imports.

Engineer Nader Zaki reaffirmed BP’s commitment to advancing its exploration and drilling initiatives in Egypt’s Mediterranean concessions. He noted the significant progress in drilling two new wells in the Raven offshore field, part of the West Nile Delta project, with a total investment of $200 million. These wells are expected to yield an additional 200 MMcf/d.

The discussion also covered new opportunities for gas exploration in light of the latest global bid round launched by the Egyptian Natural Gas Holding Company (EGAS) through Egypt’s Digital Exploration and Production Portal. This platform provides investors with streamlined access to data on areas open for investment, further supporting Egypt’s push to attract international interest in its energy sector.

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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.