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British Petroleum (bp) is planning to invest nearly $150 million to boost gas production at its concession in Egypt’s West Nile Delta area.
The company will drill a second well in El-King concession during the first quarter of 2026, the Saudi news website Asharq Business said, quoting an unnamed Egyptian official.
He added that the two sides agreed to commence production following the completion of drilling operations during the second quarter of next year, noting that the El-King exploration area is distinguished by its proximity to BP’s offshore facilities and pipelines within the West Nile Delta project.
On 9 September, the company had announced the signing of a Memorandum of Understanding (MoU) to evaluate opportunities for a five-well programme at water depth ranging from 300 to 1,500 metres in the Mediterranean Sea.
The programme is designed to accelerate the development and production of gas reserves, with the intent of extending the use of existing production facilities in the West Nile Delta, the company statement had said.
Drilling operations are expected to start in 2026, with possible tie-back options following evaluation of the drilling campaign and resource potential.
The investment decision follows an announcement by BP that it made new gas discoveries in that area in February, the Asharq Business report said.
“Joint assessments by BP and the Egyptian Natural Gas Holding Company (EGAS) show significant reserves around the discovered well, requiring the drilling of a second exploratory development well to accurately determine the recoverable gas quantities before the development plan begins,” the official told the website.
(Writing by N Saeed; Editing by Sona Nambiar)
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