Karim Badawi, Minister of Petroleum and Mineral Resources, inspected the Valaris DS-12 drilling rig, recently arrived in Egypt to launch a programme drilling five new natural gas wells in the Mediterranean Sea for BP and Arcius Energy, the joint investment venture between BP and Abu Dhabi’s ADNOC.
Badawi said intensifying drilling for new wells is a top priority for the ministry, both to unlock fresh exploration opportunities and to increase output from existing fields. The programme aligns with Egypt’s broader strategy to gradually raise domestic gas production and reduce reliance on imports amid rising global gas costs.
He added that the commitment of international companies to these drilling initiatives reflects confidence in Egypt’s petroleum investment climate, strengthened by reforms and incentives. These include the timely settlement of dues owed to partners, with full clearance expected by the end of June, as well as additional incentives targeting promising exploration areas.
During his visit, the minister toured the rig to review operational readiness. The programme will see the Fayoum 4, Ghareb, and Rw wells drilled for BP, while Arcius Energy will develop the Atoll West and Nefertari exploratory wells.
The Fayoum 4 well is scheduled to start production in July, with an estimated output of around 100 million cubic feet of gas per day. This is expected to bolster domestic supply during the summer peak, particularly for electricity generation, and help reduce Egypt’s import bill.
Badawi praised BP as one of Egypt’s largest investors in the natural gas sector and a strategic partner for more than six decades, noting its ambitious Mediterranean expansion programme and plans to invest approximately $1.5bn in exploration and field development during the 2026/2027 fiscal year.
He also welcomed Arcius Energy’s choice of Egypt as the starting point for its operations and as a hub for regional growth in the energy sector.
