BP, Valaris sign drilling deal for 5 new offshore gas wells in Egypt

The agreement, witnessed by Petroleum Minister Karim Badawy, covers wells at depths ranging from 300 to 1,500 metres and will use the Valaris-owned deepwater rig DS-12. The operations follow a memorandum of understanding signed last month in London between the Egyptian Natural Gas Holding Company (EGAS) and BP to begin the programme.

The campaign, scheduled to start in 2026, will include sidetrack, development and exploration wells designed to accelerate gas production and utilise existing infrastructure in the West Nile Delta region, the ministry said.

BP Egypt Country Manager Wail Shaheen said the agreement reaffirms BP’s long-term commitment to Egypt’s gas sector and builds on its successful track record in the Nile Delta. He said the DS-12 rig would help speed up production from recent discoveries and sustain output in the West Nile Delta beyond 2030.

The programme follows BP’s exploration successes earlier in 2025, when it made two gas discoveries — Fayoum-5 and King-2 — in the West Nile Delta basin. BP has been operating in Egypt’s oil and gas sector for more than six decades.