Egypt signs Red Sea exploration deals with BP, SLB

Egypt signed agreements on Monday to boost oil and gas exploration in the Red Sea, the petroleum ministry said, as it seeks to unlock new resources in the basin.

Petroleum Minister Karim Badawy attended the signings on the sidelines of the Egypt Energy Show (EGYPES 2026).

A heads of agreement for the award of Block 6 in the Red Sea was signed between the South Valley Egyptian Petroleum Holding Company (Ganope) and BP Exploration (Delta) Limited, aimed at accelerating exploration and developing petroleum resources in the area.

Badawy also witnessed the signing of a memorandum of understanding between Ganope and WesternGeco Egypt, part of SLB, to conduct a seismic survey using Ocean Bottom Nodes (OBN) technology. The agreement aims to acquire high-quality data, improve understanding of subsurface geology and reservoirs, and help promote exploration opportunities in the Red Sea.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser