Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, conducted an inspection visit on Saturday to the drilling vessel “Valaris DS 12.”
The vessel recently arrived in Egyptian waters to begin a five-well natural gas drilling program in the Mediterranean.
The project is a collaborative effort between BP and Arcius Energy, a joint venture between BP and ADNOC.
During the visit, Minister Badawi emphasised that expanding drilling operations is a top priority to both unlock discoveries and maximise production from existing fields.
The Minister noted that these operations are part of a broader strategy to increase domestic gas production and reduce the financial burden of energy imports.
Badawi stated that the commitment of global energy firms reflects growing trust in Egypt’s investment climate, supported by recent sector reforms.
The minister confirmed that the government expects to fully clear all outstanding dues to international energy companies by the end of June.
Energy output is expected to see a significant boost soon. Production from the “Fayoum 4” well is scheduled to begin in July, with an estimated output of 100 million cubic feet per day.
This additional supply will be critical in meeting peak summer demand and supporting national electricity generation.
Minister Badawi concluded by praising BP as a longstanding strategic partner and reaffirmed the ministry’s dedication to fostering a stable, attractive environment for global energy investment.
