The initial results of the Fayoum 5 exploration well located in North Alexandria, which is in the west of the Mediterranean, showed the presence of a gas-bearing layer, and electrical recordings are being made in the coming days.

The well was drilled by using the Valaris DS-12 drilling rig, which is the second discovery by bp in the western region after the King 2 well and the third in this region after the ExxonMobil well.

The company will work to link them to production as soon as possible as one connection with the promising King area, especially since the area is close to the western production facilities. 

It is expected that the productivity of these wells will save about $1 billion from the import bill every year after putting them into production.