{"id":671608,"date":"2025-09-10T00:00:00","date_gmt":"2025-09-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/10\/eni-bp-to-drill-exploratory-gas-well-with-usd-70-mn-in-investments-this-year\/"},"modified":"2025-09-10T00:00:00","modified_gmt":"2025-09-10T00:00:00","slug":"eni-bp-to-drill-exploratory-gas-well-with-usd-70-mn-in-investments-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/10\/eni-bp-to-drill-exploratory-gas-well-with-usd-70-mn-in-investments-this-year\/","title":{"rendered":"Eni, BP to drill exploratory gas well with USD 70 mn in investments this year"},"content":{"rendered":"<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Italy\u2019s Eni and the UK\u2019s BP will drill an exploratory gas well in the <\/strong><strong>Temsah <\/strong><strong>concession off the Mediterranean in November with USD 70 mn in investments<\/strong>, a government official told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/97322\/%D8%A5%D9%8A%D9%86%D9%8A-%D9%88bp-%D8%AA%D8%AD%D9%81%D8%B1%D8%A7%D9%86-%D8%A8%D8%A6%D8%B1%D8%A7-%D8%A7%D8%B3%D8%AA%D9%83%D8%B4%D8%A7%D9%81%D9%8A%D8%A9-%D8%A8%D8%A7%D9%84%D8%A8%D8%AD%D8%B1-%D8%A7%D9%84%D9%85%D8%AA%D9%88%D8%B3%D8%B7-%D8%A8%D9%85%D8%B5%D8%B1-%D9%81%D9%8A-%D9%86%D9%88%D9%81%D9%85%D8%A8%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The well aims to tap new gas layers to extend production at the field, which saw production levels sharply decline over the past decade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- <\/strong>BP signed an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f45d97fd-c23b-41f4-967d-e7c212ca573e\/bp-inks-mou-to-drill-five-gas-wells-in-the-mediterranean\" style=\"\" rel=\"noopener\">agreement<\/a> earlier this week with state-owned Egas to drill five new deepwater gas wells in the Mediterranean.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Khalda Petroleum kicked off gas production at the new NUT-1 well in <\/strong><strong>its Western Desert concession at a capacity of 50 mcf\/d<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/16qfZzMmz2\/\" style=\"\" rel=\"noopener\">statement<\/a> from the Oil Ministry. The additional flows are the equivalent of two monthly shipments of LNG, according to the statement.<\/p>\n<p class=\"tag-border-left\">EXPANSION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Elsewedy Electric looks to further its presence in Algeria with a <\/strong><strong>USD 2.5 bn investment <\/strong><strong>commitment<\/strong>, which it signed with the Algerian Agency for Investment Promotion, it said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/9\/486.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The agreement covers cooperation on industrial projects, technology transfer, and expanding investments, with sustainability as a key focus.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Egyptian player is no stranger to the Algerian market<\/strong>, and has several operational factories in the country, producing transformers, cable accessories, and cables. Products manufactured by Elsewedy Electric in the country serve the Algerian market and are exported across the continent and into Europe.<\/p>\n<p class=\"tag-border-left\">DEBT WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/magiclandalhokair.com\/\" style=\"\" rel=\"noopener\">Magic Land Al Hokair<\/a><\/strong><strong> secured EGP 1.2 bn in financing from the National <\/strong><strong>Bank of Egypt<\/strong> to fund 60% of its planned EGP 2.1 bn Tanza City development in 6th of October, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/9\/488.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The credit facility has a 7.5-year tenor.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Magic Land Al Hokair \u2014 a joint venture between Saudi Arabia\u2019s Al Hokair Group, Egyptian Media Production City, and local developer Al Kayan Developments \u2014 launched the project in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ffc610c1-c520-4c4e-a8b0-523143665f1f\/cbe-issues-tighter-regulations-for-financial-leasing-firms.-plus:-hassan-allam-%2B-sumou-holding-jv,-magic-land%253cmark%253e-al-hokair%253c%2Fmark%253e,-egp-1.1-bn-entertainment-project,-china-hands-over-satellite-center,-egp-1-bn-auto-assembly-plant\" style=\"\" rel=\"noopener\">March<\/a> of last year with an initial investment target of EGP 1.1 bn. The 2.5 sq km venture is an integrated entertainment and commercial hub encompassing seven entertainment zones \u2014 a dolphinarium, a forest, a cinema and a theater, a kids area, sports games, racing, and adventure-based attractions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Khalda Petroleum kicked off gas production at the new NUT-1 well in its Western Desert concession<\/p>\n","protected":false},"author":1,"featured_media":671609,"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":[111,196,7106,152,93,197,72,248,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-671608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-bp","tag-debt","tag-elsewedy-electric","tag-energy","tag-eni","tag-enterpriseam","tag-national-bank-of-egypt","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"f621e5ec-9a00-4c92-826c-9e43de87378d","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2095.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Eni, BP to drill exploratory gas well with USD 70 mn in investments this year","related_issue":[671589],"teaser":"PLUS- Khalda Petroleum kicked off gas production at the new NUT-1 well in its Western Desert concession","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.e8f0282e-760d-435e-8cbb-b7e3efb7b64b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Production tests yielded flow rates of up to 32 mn scf\/d, which are expected to increase to 100 mn\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574670,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/17\/eni-bp-make-new-gas-discovery-in-nile-delta\/","url_meta":{"origin":671608,"position":4},"title":"Eni, BP make new gas discovery in Nile Delta","author":"enterpriseam admin","date":"17 September 2020","format":false,"excerpt":"Eni, BP announce new gas discovery in EastMed: Eni and BP have made a new gas discovery in the offshore \u201cGreat Nooros Area\u201d surrounding Eni\u2019s Nooros field in the Nile Delta, the Italian oil giant announced in a statement. Eni, which operates the Abu Madi West Development Lease, and contractor\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622665,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/09\/eni-tharwa-to-finish-drill-first-well-in-noor-by-december\/","url_meta":{"origin":671608,"position":5},"title":"Eni, Tharwa to finish drill first well in Noor by December","author":"enterpriseam admin","date":"9 October 2018","format":false,"excerpt":"Eni and Tharwa Petroleum will reportedly complete in December drilling work on the Noor gas field\u2019s first exploratory well, government sources tell Al Masry Al Youm. 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