Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, inspected the Valaris DS-12 drilling rig, which recently arrived to launch a programme drilling five new natural gas wells in the Mediterranean Sea for BP and Arcius Energy. Badawi stated that intensifying drilling is a top priority to unlock exploration opportunities and boost output from existing fields. The initiative reflects international companies' confidence in Egypt's investment climate.
Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, inspected the Valaris DS-12 drilling rig upon its recent arrival in the country to initiate a programme for five new natural gas wells in the Mediterranean Sea. The wells include Fayoum 4, Ghareb, and Rw for BP, while Arcius Energy—a joint venture between BP and Abu Dhabi's ADNOC—will develop the exploratory Atoll West and Nefertari wells.
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." He noted the programme aligns with Egypt's strategy to gradually raise domestic gas production and reduce import reliance amid rising global gas costs.
During the visit, the minister toured the rig to assess operational readiness. Fayoum 4 is scheduled to begin production in July at around 100 million cubic feet per day, bolstering summer supplies for electricity generation and cutting import bills.
Badawi praised BP as one of Egypt's largest natural gas investors and a strategic partner for over six decades, highlighting its Mediterranean expansion and planned $1.5bn investment in exploration and development for the 2026/2027 fiscal year. He welcomed Arcius Energy's selection of Egypt as its operational launchpad and regional energy hub, citing reforms like full dues settlement by June's end and new incentives.