{"id":643205,"date":"2024-09-04T00:00:00","date_gmt":"2024-09-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/"},"modified":"2024-09-04T00:00:00","modified_gmt":"2024-09-04T00:00:00","slug":"bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/","title":{"rendered":"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits"},"content":{"rendered":"

ENERGY-<\/p>\n

#1-<\/strong> BP to ramp up production: <\/strong>Global energy giant BP plans to invest USD 400 mn during the current fiscal year to drill two new wells at the Raven natural gas field in its North Alexandria concession, Asharq Business reports<\/a>, citing an anonymous government official. The two wells will add a combined daily 400 mn cubic feet of gas to its output. The first well will go live next month \u2014 adding some 200 mn cubic feet of gas and 8k barrels to the company\u2019s overall output \u2014 and the second will go live in February. <\/p>\n

More and earlier than expected: <\/strong>Last July, the Oil Ministry said<\/a> that BP plans to invest some USD 200 mn to drill two new wells at its Raven field, with the new wells adding 200 mn cubic feet of gas to its overall output by the third quarter of the fiscal 2024-2025.<\/p>\n

Oil players have been ramping up their activity in Egypt <\/strong>after the government started clearing its arrear<\/a>s<\/a> to foreign oil and gas companies operating in the country and the recently-introduced incentive package<\/a> for oil and gas players helped sweeten the pot even further.<\/p>\n

\n

#2- Agiba to bring three more rigs online this week: <\/strong>Agiba \u2014 a JV between energy giant Eni subsidiary IEOC and the Egyptian General Petroleum Corporation (EGPC) \u2014 will start operating three of its rigs next week, Eni announced<\/a> yesterday. This came during Oil Minister Karim Badawi\u2019s visit to Italy to meet with Eni officials and look into enhancing cooperation between Egypt and the Italian oil giant.<\/p>\n

ICYMI: <\/strong>Prime Minister Moustafa Madbouly said<\/a> last month that the oil minister will be meeting with foreign energy players with the aim of boosting local production starting early 2025. After months of blackouts and then setting aside USD 1.2 bn for energy imports, the government has been noticeably more proactive in its efforts to try to get local energy production rates back up. <\/p>\n

HOSPITALITY<\/p>\n

Red Sea hotels have raised their prices some 10-15% <\/strong>during 2024 so far, Red Sea Tourism Investment Association Chairman and Pickalbatros Hotels & Resorts CEO Kamel Abou Aly told Al Arabiya<\/a>. In tandem with this, average occupancy rates in Red Sea hotels rose to 75% over the past two months, he added. <\/p>\n

MANUFACTURING-<\/p>\n

Another fertilizer factory incoming:<\/strong> Local agricultural development firm Juba<\/a> plans to set up its first fertilizers and agricultural nutrients factory \u2014 in partnership with local investors \u2014 with plans to kick off operations for the EGP 50 mn facility in early 2027, chairman Eslam Madina told A<\/a>l M<\/a>al<\/a>. The factory will be set up on a 3k sqm plot in Sadat City and will have a production capacity of 350-400 tons a month during its first year, which will then increase to up to 500 tons by early 2028. The company will initially produce 20 products with plans to expand its portfolio to 100 products by 2029.<\/p>\n

Exports on the agenda:<\/strong> The is looking to tap two new export markets \u2014 Saudi Arabia and Lebanon \u2014 with plans to earmark 30% of its production to exports. <\/p>\n

LOGISTICS-<\/p>\n

Loading and unloading companies at ports told to upgrade equipment:<\/strong> The Alexandria Port Authority has instructed companies involved in loading and unloading cargo from ships \u2014 known in the industry as stevedoring \u2014 to develop a five-year plan for upgrading their equipment, Al<\/a>Mal<\/a> reports, citing a circular by the authority. The initiative, which will prohibit companies from using outdated equipment after the five-year deadline, aims to align shipping and unloading rates with global standards. <\/p>\n

DEBT-<\/p>\n

El Araby Group secures EGP 1.9 bn loan:<\/strong> Electronics and home appliances manufacturer El<\/a>Araby Group<\/a> has secured EGP 1.9 bn in financing from the Suez Canal Bank, Al<\/a>Mal<\/a> reports, citing sources it says are in the know. The funds include a five-year EGP 1.1 bn loan for expanding logistical capabilities and upgrading equipment in addition to a short-term EGP 800 mn loan for boosting working capital and facilitating local purchases.<\/p>\n

CAPITAL MARKETS-<\/p>\n

All aboard the carbon market:<\/strong> The Financial Regulatory Authority (FRA) has registered 12 new carbon reduction projects to its newly-launched carbon market<\/a>, according to a statem<\/a>ent<\/a> from the authority. All 12 projects are certified under Egyptian Biodynamic Association\u2019s Economy of Love standard, which aims to support small-scale farmers as they switch to organic and biodynamic farming methods. They will offer over 13.2k carbon credits that will help reduce 13.3k tons of carbon emissions. <\/p>\n

Remember: <\/strong>Egypt launched Africa\u2019s first carbon market last month, allowing companies to issue and trade voluntary carbon certificates in Egypt and Africa, which can be bought by other companies wanting to offset their emissions. <\/p>\n

FINTECH-<\/p>\n

A new fintech accelerator in town: <\/strong>EG Bank launched the MINT fintech accelerator, in partnership with USAID\u2019s Business Egypt program and DAI Egypt, according to a statement (pdf)<\/a>. The accelerator aims to support fintech startups by providing funding, training, and mentorship as well as connecting entrepreneurs with potential partners.<\/p>\n","protected":false},"excerpt":{"rendered":"

The two wells will add a combined daily 400 mn cubic feet of gas to BP\u2019s output<\/p>\n","protected":false},"author":1,"featured_media":643206,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,196,102,6369,7106,1166,2876,93,197,72,99,183,955,145,131,91,2475],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-bp","tag-capital-markets","tag-carbon-trading","tag-debt","tag-eg-bank","tag-elaraby-group","tag-energy","tag-eni","tag-enterpriseam","tag-fertilizers","tag-fintech","tag-hospitality","tag-logistics","tag-manufacturing","tag-oil-and-gas","tag-pickalbatros","wpautop","entry"],"acf":{"mongo_id":"ac665409-aa60-44ba-83ae-d2d40e48071f","order":"13","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/254.jpg","photo_position":"above","homepage_title":"","full_issue_title":"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits","related_issue":[643182],"teaser":"The two wells will add a combined daily 400 mn cubic feet of gas to BP\u2019s output","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.9b655937-e521-487c-a507-2343156d2645.mp3"},"yoast_head":"\nBP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits\" \/>\n<meta property=\"og:description\" content=\"The two wells will add a combined daily 400 mn cubic feet of gas to BP\u2019s output\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-04T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits\",\"datePublished\":\"2024-09-04T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/\"},\"wordCount\":817,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ALSO ON OUR RADAR\",\"BP\",\"capital markets\",\"carbon trading\",\"debt\",\"EG Bank\",\"Elaraby Group\",\"energy\",\"Eni\",\"EnterpriseAM\",\"fertilizers\",\"Fintech\",\"hospitality\",\"logistics\",\"Manufacturing\",\"oil and gas\",\"Pickalbatros\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/\",\"name\":\"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-09-04T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/","og_locale":"en_US","og_type":"article","og_title":"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits","og_description":"The two wells will add a combined daily 400 mn cubic feet of gas to BP\u2019s output","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-09-04T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits","datePublished":"2024-09-04T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/"},"wordCount":817,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1","keywords":["ALSO ON OUR RADAR","BP","capital markets","carbon trading","debt","EG Bank","Elaraby Group","energy","Eni","EnterpriseAM","fertilizers","Fintech","hospitality","logistics","Manufacturing","oil and gas","Pickalbatros"],"articleSection":["Also on our Radar"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/","name":"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1","datePublished":"2024-09-04T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/bp-to-invest-usd-400-mn-in-two-new-wells-plus-agiba-pickalbatros-juba-alexandria-port-authority-el-araby-group-carbon-credits\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/254.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":658554,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/13\/bp-completes-drilling-of-two-new-wells-at-its-raven-natural-gas-field-plus-eni-steigenberger-marriot\/","url_meta":{"origin":643205,"position":0},"title":"BP completes drilling of two new wells at its Raven natural gas field. PLUS: Eni, Steigenberger + Marriot","author":"enterpriseam admin","date":"13 January 2025","format":false,"excerpt":"The firm invested some USD 400 mn on the drilling operations","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1753.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":657301,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/18\/bp-and-shell-to-add-125-mn-cbf-of-daily-gas-production-in-2026-with-usd-370-mn-project\/","url_meta":{"origin":643205,"position":1},"title":"BP and Shell to add 125 mn cbf of daily gas production in 2026 with USD 370 mn project","author":"enterpriseam admin","date":"18 December 2024","format":false,"excerpt":"The project will be carried out by the Pharaonic Petroleum Company, a JV between BP and EGAS","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1711.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":633778,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/21\/uaes-beeah-to-invest-usd-136-mn-in-egypt-plus-news-from-bp-lionsbridge-tourism-ministry\/","url_meta":{"origin":643205,"position":2},"title":"UAE\u2019s Beeah to invest USD 136 mn in Egypt. PLUS: News from BP, Lionsbridge, Tourism Ministry","author":"enterpriseam admin","date":"21 July 2024","format":false,"excerpt":"The firm was tapped in December to develop the solid waste management infrastructure in the new capital","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1552.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":660467,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/12\/intl-energy-players-to-invest-usd-130-mn-in-oil-and-gas-drilling\/","url_meta":{"origin":643205,"position":3},"title":"Int\u2019l energy players to invest USD 130 mn in oil and gas drilling","author":"enterpriseam admin","date":"12 February 2025","format":false,"excerpt":"The companies will drill 10 oil and gas exploration wells in East Port Said and the Western Desert","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/152.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589749,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/09\/shell-to-drill-three-new-wells-at-its-offshore-mediterranean-concession\/","url_meta":{"origin":643205,"position":4},"title":"Shell to drill three new wells at its offshore Mediterranean concession","author":"enterpriseam admin","date":"9 July 2023","format":false,"excerpt":"Our annual production of natural gas is expected to hit 6 tn cubic feet by 2025","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/245.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":671043,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/31\/foreign-firms-to-invest-some-usd-340-mn-on-oil-and-gas-exploration\/","url_meta":{"origin":643205,"position":5},"title":"Foreign firms to invest some USD 340 mn on oil and gas exploration","author":"enterpriseam admin","date":"31 August 2025","format":false,"excerpt":"PLUS- Oil Ministry completed the drilling of the exploratory well North Lotus Deep-1 in the Western Desert","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/2299.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=643205"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643205\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/643182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/643206"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=643205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=643205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=643205"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=643205"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=643205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}