Egyptian Minister of Petroleum and Mineral Resources Karim Badawi attended the signing of a memorandum of understanding (MoU) on Monday between the Egyptian Natural Gas Holding Company (EGAS) and British energy giant BP to drill five new gas wells in the Mediterranean Sea.

The agreement, signed at BP’s London headquarters, aims to drill wells at depths of 300 to 1,500 metres, with operations expected to begin next year.

The project seeks to speed up gas production by using existing infrastructure in the West Nile Delta. Any new discoveries will be connected to current facilities after assessments are completed.

The signing was also attended by Egypt’s Ambassador to the UK Ashraf Sweilam, BP CEO Murray Auchincloss, BP Executive Vice President for Gas and Low Carbon Energy William Lin, and BP Regional President for the Middle East and North Africa Nader Zaki.

During the signing, Badawi said the agreement highlights BP’s six-decade partnership with Egypt and supports the ministry’s strategy to increase investment in exploration and production.

He added that Egypt is committed to maintaining a competitive investment environment for global energy companies.

Meanwhile, BP’s Lin affirmed the company’s commitment to investing in Egypt’s gas industry.

Zaki noted that the project will help unlock additional resources in the West Nile Delta and support domestic demand in the years to come.

The deal follows BP’s recent discoveries in Egypt, including the Fayoum-5 and King-2 wells in the West Nile Delta. 

Earlier this year, BP also completed drilling two additional wells in the Raven Gas Field off Egypt’s Mediterranean coast.

BP has operated in Egypt for six decades, investing more than $30 billion during that time, according to the Egyptian cabinet.

In August, Egypt signed four oil and gas exploration deals with international companies worth more than $340 million to boost local production amid growing energy pressures.