Fossil Energy – Drilling
bp has announced the signing of a Memorandum of Understanding (MoU) to evaluate opportunities for a five-well programme at water depth ranging from 300 to 1,500 meters in the Mediterranean Sea.
The programme 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 agreement comes as bp plans to increase production to 2.3-2.5 million barrels of oil equivalent a day in 2030, with the capacity to increase production out to 2035.
It follows an 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.
