The incentives being implemented by the petroleum sector to attract global investment and increase production were also discussed. Credit: Egypt Oil&Gas.

BP and Egypt’s Ministry of Petroleum and Mineral Resources have reviewed the company’s ongoing natural gas exploration and production (E&P) activities in the country.

The meeting, held on the sidelines of ADIPEC 2024, was led by Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources and William Lin, bp’s executive vice-president of gas and low-carbon energy.

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During the discussions, Lin outlined bp’s drilling programme in the Mediterranean Sea and the progress on drilling two new wells in the second phase of the Raven project. He also highlighted the seismic surveys for exploration in new concession areas and the efforts to ramp up operations in the Atoll field within the North Damietta offshore concession.

The meeting also detailed bp’s future work programme in Egypt, which aims to expedite E&P to enhance field development in the Mediterranean and increase production rates.

Badawi expressed the Ministry’s full support for bp’s initiatives to boost production and urged the company to fast-track exploration to augment reserves.

The incentives being implemented by the petroleum sector to attract global investment and increase production were also discussed.

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Badawi pointed out the new mechanisms for paying partners’ dues, ensuring consistent and sustainable payments, and presenting new, appealing investment opportunities in oil and gas exploration.

Lin reaffirmed bp’s commitment to the agreed plans for elevating natural gas production from its Mediterranean concessions and to drill new wells, along with executing new exploration programmes.

He conveyed the company’s eagerness to invest in Egypt, reflecting its trust in the Egyptian petroleum sector and the enduring partnership between bp and Egypt.

The meeting also touched on the development of the new joint venture between bp and ADNOC, which focuses on natural gas exploration in the Mediterranean Sea in Egypt.

Attendees included Nader Zaki, bp regional president for the Middle East and North Africa, and Moataz Atef, head of the Central Administration of the Technical Office and official spokesman for the ministry.