Egypt is ramping up its natural gas exploration efforts, with Kareem Badawy inspecting the drilling vessel Vallaris DS 12, which has arrived to commence a program targeting five new gas wells in the Mediterranean.
The initiative involves BP and Arkeus Energy, a strategic investment partnership between BP and Abu Dhabi’s ADNOC.
The minister emphasized that accelerating new drilling activities is a top priority, both to explore untapped reserves and to boost production in existing fields. This effort aligns with Egypt’s broader plan to gradually increase domestic gas output and reduce pressures from rising import bills.
Badawy noted that the commitment of major international companies to Egypt’s drilling programs reflects strong investor confidence, bolstered by recent policy reforms and incentives. Key measures include timely settlement of partner dues, expected to be fully completed by the end of June, and attractive incentives for new investments, especially in promising exploration areas.
During the inspection, the minister toured the vessel to review its operational readiness. The planned wells include Fayoum 4, Ghrab, and Rw for BP, alongside the exploratory wells Atol West and Novrit for Arkeus Energy.
The Fayoum 4 well is scheduled to begin production in July, targeting around 100 million cubic feet of gas per day. This output is expected to support local supply, particularly during the summer peak, helping meet growing electricity demand while reducing a portion of gas imports.
BP remains one of Egypt’s largest gas investors and a strategic partner for over 60 years. The company is pursuing an ambitious expansion program in the Mediterranean, with new investments estimated at $1.5 billion in the 2026/2027 fiscal year for exploration and field development.
Arkeus Energy has also selected Egypt as its regional hub, reinforcing the country’s role as a gateway for energy projects across the Middle East and North Africa.
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