BP and Valaris to Drill Five New Gas Wells in Egypt’s Mediterranean Waters

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In a strategic move to strengthen Egypt’s natural gas sector and enhance domestic production, BP has signed an agreement with Valaris to drill five new gas wells in the Mediterranean Sea

The project aims to expand Egypt’s gas reserves and sustain production growth, contributing to the country’s long-term energy security and reducing its import bill

Deepwater Drilling to Begin in 2026

Under the agreement, BP will carry out drilling operations in its Mediterranean concessions at depths ranging from 300 to 1,500 meters, using the Valaris DS-12 deepwater drilling rig.

Operations are scheduled to begin in 2026, marking another milestone in BP’s ongoing investment in Egypt’s offshore gas resources

Supporting Egypt’s Energy Independence

The new exploration campaign comes as part of Egypt’s national plan to add new gas volumes to domestic output and discover additional offshore reservoirs, reinforcing the country’s position as a regional energy hub in the East Mediterranean

The initiative aligns with the government’s efforts to achieve self-sufficiency in energy and enhance foreign investment in the oil and gas sector

Egypt’s Current Gas Production and Export Outlook

Egypt currently produces around 6.5 billion cubic feet of natural gas per day, with the majority allocated for domestic consumption, while the remainder is exported through the Idku and Damietta LNG facilities

The government aims to increase production capacity through new partnerships and exploration agreements with global energy leaders such as BP, Eni, and Shell, boosting export revenues and supporting foreign currency reserves

Egypt Strengthens Its Role as a Regional Energy Hub

This agreement underscores Egypt’s ongoing efforts to expand offshore exploration, modernize its energy infrastructure, and leverage its strategic geographic position connecting African, Asian, and European markets

By advancing both traditional and clean energy investments, Egypt continues its transition toward a sustainable and diversified energy future in line with Egypt Vision 2030