During his visit to the UK, Minister of Petroleum and Mineral Resources Karim Badawi met with bp CEO Murray Auchincloss to discuss the company’s plans to accelerate exploration and production (E&P) activities in its Mediterranean concession areas. The meeting was also attended by William Lin, Executive Vice President of Low Carbon Energy Projects; Engineer Nader Zaki, Regional President of bp for the Middle East and North Africa; and Engineer Moataz Atef, Head of the Central Administration of the Technical Office and official spokesperson for the ministry.

Badawi emphasized the government’s commitment to providing full support for bp’s efforts to boost production and advance its operations in Egypt, noting the company’s critical role in the discovery and development of the country’s natural gas resources.

He also highlighted the new incentive package recently introduced by the petroleum sector, aimed at increasing oil and natural gas production.

For his part, Auchincloss confirmed the company’s commitment to the agreed plans to implement E&P programs and drill new wells in its concession areas in the Mediterranean Sea.

The two parties discussed implementing exploration activities in the North King Mariout and Northwest Abu Qir areas and the timeframe for drilling the Osiris-1 well in the Ras El Bar offshore development area during 2024/2025.

Furthermore, they discussed commitments to drill a well in the Atoll Deep Development Area and North El Tabia, especially after completing the interpretations of the seismic survey.

Badawi reviewed the new opportunities for natural gas research and exploration within the framework of the new international bid round recently launched by the Egyptian Natural Gas Holding Company (EGAS) through the Egypt Upstream Gateway (EUG).