Reported about 10 hours ago
EGAS, Egypt's state gas company, has signed a memorandum of understanding with BP to drill five new gas wells in the Mediterranean Sea. The agreement, attended by the Egyptian Petroleum Minister and BP executives, aims to explore opportunities at various water depths and expedite reserve establishment utilizing existing infrastructure. Drilling is set to commence in 2026, following BP's recent discoveries in the West Nile Delta, and the initiative aligns with Egypt's strategy to optimize its petroleum resources.
Source: YAHOO