British Petroleum (BP) has committed $200 million to new natural gas development projects in Egypt's West Nile Delta. The investment encompasses two new wells, West Reefin-4 and West Reefin-5, which are projected to produce 200 million cubic feet of gas and 8,000 barrels of condensates per day by the third quarter of fiscal year 2024-2025. In addition to these wells, BP plans to drill two more wells in Giza and Fayoum with a further investment of $120 million. This extensive investment reflects BP's commitment to enhancing natural gas production and supporting Egypt's energy sector. The new wells are key part of BP's expanded exploration strategy in the Mediterranean. This strategy includes drilling the exploratory well King-2 in the North King Mariout area, aimed at expanding BP's search for natural gas in new locations. Additionally, BP will drill the exploratory well Fayoum-5 in the West Nile Delta to investigate new gas-bearing layers in existing fields. Minister of Petroleum Karim Badawi recently highlighted the significance of BP's investments during a project visit. He emphasised that these efforts are crucial for achieving Egypt's production goals and reinforcing its partnership with BP. Moreover, this development is poised to strengthen Egypt's energy sector and ensure a robust supply of natural gas, aligning with the country's broader energy and economic objectives.
