Wednesday, 27 May 2026
Egypt’s EGAS and BP sign landmark agreement to drill five new gas wells in Mediterranean
London – Egypt’s Minister of Petroleum and Mineral Resources, Eng. Karim Badawi, witnessed the signing of a Memorandum of Understanding (MoU) between the Egyptian Natural Gas Holding Company (EGAS) and British energy giant BP to explore and drill five new natural gas wells in the Mediterranean Sea. The ceremony took place at BP’s headquarters in London and marks a significant step in strengthening the decades-long partnership between Egypt and BP.
The agreement aims to accelerate the development and production of natural gas reserves by tapping into Egypt’s existing infrastructure in the West Nile Delta region. Drilling operations are set to begin next year, focusing on deep-water zones ranging from 300 to 1,500 meters. Once potential discoveries are assessed, new gas resources could be fast-tracked into production using current facilities.
Egypt’s Ambassador to the United Kingdom, Ashraf Sweilem, attended the signing along with senior officials from both companies, including BP CEO Murray Auchincloss, William Lin, Executive Vice President for Gas & Low Carbon Energy at BP, Nader Zaki, BP’s Regional President for the Middle East and North Africa, and Dr. Samir Raslan, EGAS Deputy Minister for Agreements and Exploration.
Minister Badawi emphasized the importance of this renewed collaboration, noting BP’s recent discoveries in the Mediterranean and highlighting Egypt’s commitment to attracting further international investment in its gas sector. “This agreement reflects the strength of our more than six-decade partnership with BP. It also aligns with our strategy to expand exploration and production, ensuring a favorable investment climate for global energy companies,” Badawi said.
William Lin of BP stated, “This agreement reaffirms our commitment to investing in Egypt’s gas sector. We are grateful for the ongoing cooperation and support of Minister Badawi, and we aim to leverage BP’s technological expertise to accelerate the discovery and production of new resources in the country.”
Nader Zaki, BP’s Regional President, added, “We are proud of our enduring partnership with the Egyptian government. This new investment will help unlock additional gas resources in the West Nile Delta, contributing to domestic energy security and supporting Egypt’s economic development in the years ahead.”
The agreement builds on BP’s recent exploration successes in Egypt, including two key discoveries—“Fayoum-5” and “King-2” wells—in the West Nile Delta project area.