gas exploration
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.
President Abdel Fattah El-Sisi has underscored the importance the Egyptian state places on natural gas exploration projects as he met on Sunday with John Ardill, Vice President of Global Exploration at American multinational oil and gas corporation ExxonMobil.
This initiative is a key part of the company’s strategy to bolster its presence in Egypt's energy sector, particularly in offshore gas exploration and development.
Four exploration areas were awarded, including three in the Mediterranean Sea, with two going to the Italian company Eni and one to a consortium of Eni, BP, and Qatar Energy.
Egypt’s President Abdel Fattah El-Sisi has ordered expanding gas exploration, search, and production activities and efforts between the Ministry of Petroleum and Eni in a meeting on Monday with the Italian energy company’s CEO Claudio Descalzi.
In four years, 24 agreements were signed in the Mediterranean and the Nile Delta with investments totaling $2.7 billion and grants worth nearly $25 million, Raslan added.
Molla pointed to an overcrowded exploratory map, which includes drilling and exploration works in the coming two years based on the successes achieved in this domain.
In a phone call, Egypt’s Foreign Minister Sameh Shoukry and Greek Foreign Minister Nikos Dendias discussed the developments of the Libyan file and bilateral relations.
