Egypt, BP, Harbour Energy sign deals to accelerate Mediterranean gas development

Egypt signed heads of agreement with BP and Harbour Energy to accelerate development of Mediterranean oil and gas resources, as it seeks to boost production, integrate offshore assets, and maximise returns from existing fields, the petroleum ministry said.

The agreement, witnessed by Petroleum Minister Karim Badawy, brings together the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and the two international partners to establish an integrated development framework for assets in North King Mariout and the Arish field offshore the Mediterranean.

Under the deal, development of the Arish field will be linked to the North Alexandria concession operated by EGPC and the North King Mariout area under EGAS, aiming to improve efficiency and increase economic returns through operational integration.

Badawy said the agreement forms part of a broader strategy under Egypt’s five-year energy plan to accelerate gas production and unlock untapped reserves.

He added that the partnership builds on existing cooperation with international energy companies, particularly in the North Alexandria and West Nile Delta regions, where joint operations have supported higher output and improved performance.

The minister also highlighted the importance of closer technical coordination between drilling and engineering teams to improve efficiency, accelerate development timelines, and enhance production in the coming period.

Attribution: Amwal Al Ghad English