The advanced Valaris DS-12 drillship has arrived in Egypt's territorial waters, marking the start of a drilling programme targeting four new wells in the Mediterranean Sea. Operations will begin with one production well and one exploratory well for BP, followed by two more exploratory wells for Arcius Energy.
Egypt has entered a new phase of offshore gas exploration following the arrival of the Valaris DS-12 drillship in its territorial waters. The programme targets four new wells in the Mediterranean Sea, starting with one production well and one exploratory well for BP, followed by two additional exploratory wells for Arcius Energy, a joint venture between BP and ADNOC. This development signals growing confidence among major international energy firms in Egypt's investment climate, particularly in the petroleum sector, bolstered by incentive-driven reforms from the Ministry of Petroleum and Mineral Resources to speed up exploration, development, and production. As part of a wider strategy, the ministry and its partners aim for an ambitious 2026 plan involving over 100 exploratory wells alongside development wells in existing fields. The initiative seeks to maximise Egypt's oil and gas resources, unlock new discoveries to boost production capacity, and foster steady, sustainable growth in domestic output, setting the stage for a major transformation in the country's energy sector over the next five years.