Egypt kicks off new offshore gas push as Valaris DS-12 begins drilling campaign

CAIRO – 24 March 2026: The drilling vessel Valaris DS-12 has arrived in Egyptian territorial waters, marking the start of a new phase of offshore gas drilling in the Mediterranean under a program to drill four new wells.

The rig will begin by drilling one development well and one exploratory well for UK-headquartered energy giant BP, followed by two exploratory wells for Arcius Energy, a joint venture between BP and Emirati ADNOC.

 

The move reflects growing confidence among major international energy companies in Egypt’s investment climate in the petroleum sector, the Ministry of Petroleum and Mineral Resources said in a statement.

The ministry highlighted its incentives to support gas exploration, development, and production activities.

The ministry said it is cooperating with investment partners in pursuing an ambitious 2026 plan to drill more than 100 exploratory wells, alongside development wells at existing fields.

These milestones will help maximize the utilization of oil and gas resources and achieve new discoveries that will bolster Egypt's production capacity, the statement added.

The expanded exploration efforts are key to achieving a gradual and sustainable increase in domestic production, paving the way for a significant shift in output over the next five years, the ministry explained.