BP has discovered oil and natural gas in Egypt’s King Mariout offshore block in the northern Mediterranean.
Egypt’s Prime Minister Mostafa Madbouly announced the find during a press conference, with more details expected soon.
Located near BP’s existing West Nile Delta facilities and subsea pipelines, the King Mariout exploration well offers a strategic advantage. Its proximity is set to simplify the integration of new reserves into Egypt’s energy network, boosting domestic production.
Offshore drilling in the Mediterranean has intensified in recent months. Companies like Chevron, ExxonMobil, Eni, and BP have been exploring key fields, including Khanjar-1, Nefertari-1, and Zohr.
Source:finance.yahoo
African Energy Council