{"id":671527,"date":"2025-09-09T00:00:00","date_gmt":"2025-09-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/09\/bp-inks-mou-to-drill-five-gas-wells-in-the-mediterranean\/"},"modified":"2025-09-09T00:00:00","modified_gmt":"2025-09-09T00:00:00","slug":"bp-inks-mou-to-drill-five-gas-wells-in-the-mediterranean","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/09\/bp-inks-mou-to-drill-five-gas-wells-in-the-mediterranean\/","title":{"rendered":"BP inks MoU to drill five gas wells in the Mediterranean"},"content":{"rendered":"

\n

ENERGY-<\/p>\n

BP to drill five new gas wells in the Mediterranean?<\/strong> UK energy giant BP could drill five new deepwater gas wells in the Mediterranean under an MoU inked with state-owned EGAS, the Oil Ministry said in a statement<\/a>. The agreement, inked at BP\u2019s London headquarters during a visit by Oil Minister Karim Badawi, would see drilling begin next year. The news got ink from <\/strong>Reuters<\/a><\/strong>.<\/strong><\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

REMEMBER-<\/strong> Prime Minister Moustafa Madbouly said last month that the government aims to boost its gas production to 6.6 bn cubic feet per day by 2027<\/a>, up from the current 4.1 bn cubic feet per day. The government is also preparing a new bidding round to attract energy investors and is seeking to increase natural gas production by developing several fields to produce some 300 to 350 bn cubic feet<\/a> of gas, a government source previously told us. The plan to increase production will reduce the import bill for petroleum products for the current fiscal year by approximately USD 1.5 bn, according to the source.<\/p>\n

\n

AI-<\/p>\n

Homegrown Prime Group and<\/strong> Oman\u2019s Afouq<\/strong> launched the sultanate\u2019s <\/strong>first artificial intelligence and advanced technologies zone in Muscat<\/strong> in partnership with Oman\u2019s Transport and CIT Ministry, according to a statement (pdf)<\/a>. The project aims to position \u201cOman as a regional and global leader in technology and innovation, while strengthening the country\u2019s status as a hub for tech start-ups and future-oriented investment.\u201d The zone will cost some USD 265 mn, Prime Group CEO Mahmoud Farrag told EnterpriseAM. <\/p>\n

\n

OUTSOURCING-<\/p>\n

Customer experience <\/strong>outsourcing company Foundever opened a new <\/strong>contact center in Luxor<\/strong> as part of its expansion plan in Egypt, according to a company statement (pdf)<\/a>. The site targets Upper Egypt\u2019s multilingual talent pool, offering local professionals access to global customer experience roles without the need to relocate. The Luxor branch is part of Foundever\u2019s plan to create 5k jobs in Egypt over the next three years.<\/p>\n

\n

DIPLOMACY-<\/p>\n

El Sisi, CENTCOM chief stress Gaza ceasefire push:<\/strong> President Abdel Fattah El Sisi met US Central Command leader Brad Cooper in Cairo yesterday, where they underscored the importance of joint mediation efforts with Qatar to secure a ceasefire in Gaza, ensure the release of detainees, and allow humanitarian aid into the strip, according to an Ittihadiya statement<\/a>. <\/p>\n

AND- Foreign ministers from the Arab-OIC Committee on Gaza categorically <\/strong>rejected Israeli statements about displacing Palestinians<\/strong>, in a joint statement<\/a>. The ministers condemned Israel\u2019s expanding military campaign in Gaza, its use of blockade and starvation as weapons of war, and the repeated targeting of civilians and infrastructure, warning that these policies risk fueling wider regional instability. The ministers reiterated their demand for an immediate ceasefire.<\/p>\n

\n

DEBT WATCH-<\/p>\n

EBRD, EU, GCF extend USD 50 mn financing package to Suez Canal Bank:<\/strong> The European Bank for Reconstruction and Development (EBRD), together with the EU and the Green Climate Fund (GCF)<\/a>, will extend USD 50 mn in financing to the Suez Canal Bank to boost green lending and trade finance, the lender said on its website<\/a>. The package includes a USD 25 mn loan under the EBRD\u2019s Green Economy Financing Facility \u2014 with USD 3.75 mn co-financed by the GCF \u2014 and an uncommitted USD 25 mn to the bank\u2019s trade finance limit.<\/p>\n

Half of the facility will be on-lend to households and SMEs investing in climate <\/strong>technologies<\/strong>, while the other half will support import-export transactions through guarantees and cash advances. The EU is also contributing USD 2.9 mn to \"benefit eligible sub-borrowers who complete projects successfully and to compensate borrowers for the cost of adopting higher-performing technologies.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS- Homegrown Prime Group and Oman\u2019s Afouq have launched an artificial intelligence and advanced technologies zone in Muscat<\/p>\n","protected":false},"author":1,"featured_media":671528,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7094,111,196,168,93,72,167,91,2053,3718,639,117],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-671527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-ai","tag-also-on-our-radar","tag-bp","tag-diplomacy","tag-energy","tag-enterpriseam","tag-gaza","tag-oil-and-gas","tag-outsourcing","tag-prime-group","tag-technology","tag-us","wpautop","entry"],"acf":{"mongo_id":"f45d97fd-c23b-41f4-967d-e7c212ca573e","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/1853.jpg","photo_position":"above","homepage_title":"","full_issue_title":"BP inks MoU to drill five gas wells in the Mediterranean","related_issue":[671508],"teaser":"PLUS- Homegrown Prime Group and Oman\u2019s Afouq have launched an artificial intelligence and advanced technologies zone in Muscat","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.3ce7e5c3-ced0-4c3d-a09d-1d6767540dcb.mp3"},"yoast_head":"\nBP inks MoU to drill five gas wells in the Mediterranean - 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Eni, meanwhile, will drill an exploration well this month in its Mediterranean North El Hammad exploration block, the source said.","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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542576,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/bp-eni-among-7-companies-to-land-new-oil-gas-exploration-blocks\/","url_meta":{"origin":671527,"position":1},"title":"BP, Eni among 7 companies to land new oil + gas exploration blocks","author":"enterpriseam admin","date":"4 January 2022","format":false,"excerpt":"Seven international energy companies have been awarded eight of the 24 oil and gas exploration blocks included in the government\u2019s bid round held last year, the Oil Ministry said in a statement yesterday. BP, Eni, Apex International, Energean Egypt, United Energy, Ukraine\u2019s INA Naftaplin, and Chile\u2019s Enap Sipetrol all received\u2026","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\/2022\/1\/43.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596408,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/27\/bp-to-drill-new-wells-in-atoll-katameya-fields-in-nile-delta\/","url_meta":{"origin":671527,"position":2},"title":"BP to drill new wells in Atoll, Katameya fields in Nile Delta","author":"enterpriseam admin","date":"27 August 2019","format":false,"excerpt":"BP is preparing to drill two new wells in the Atoll and Katameya natural gas fields in its North Damietta offshore concession in the Nile Delta, according to an Oil Ministry statement. The drilling work will cost USD 280 mn. The Atoll field is expected to produce 100 mcf\/d of\u2026","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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":589549,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/05\/oil-majors-to-invest-usd-1-8-bn-here-by-2025-in-search-for-gas\/","url_meta":{"origin":671527,"position":3},"title":"Oil majors to invest USD 1.8 bn here by 2025 in search for gas","author":"enterpriseam admin","date":"5 July 2023","format":false,"excerpt":"Chevron, Eni, ExxonMobil, Shell, and BP will drill a total of 35 wells 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\/101.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558941,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/03\/oil-gas-news-steps-up-a-gear\/","url_meta":{"origin":671527,"position":4},"title":"Oil + gas news steps up a gear","author":"enterpriseam admin","date":"3 January 2021","format":false,"excerpt":"The Oil Ministry signed nine oil and gas exploration agreements worth more than USD 1 bn with six international and Egyptian companies \u2014 ExxonMobil, Chevron, BP, Total, Royal Dutch Shell, and South Valley Egyptian Petroleum Holding Company \u2014 to drill 17 new wells in parts of the Mediterranean and Red\u2026","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\/2021\/1\/21.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567393,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/21\/egpc-signs-usd-450-mn-in-oil-and-gas-ep-agreements\/","url_meta":{"origin":671527,"position":5},"title":"EGPC signs USD 450 mn in oil and gas E&P agreements","author":"enterpriseam admin","date":"21 January 2020","format":false,"excerpt":"EGPC signs USD 450 mn in oil and gas E&P agreements: The state-owned Egyptian General Petroleum Corporation (EGPC) yesterday signed nine oil and gas exploration and production agreements that will see companies invest at least USD 452 mn to drill 38 wells in concessions in the Mediterranean and Western Desert,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/664.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\/671527","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=671527"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/671527\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/671508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/671528"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=671527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=671527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=671527"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=671527"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=671527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}