BP plans to raise its production bar to 2.3-2.5 million barrels of oil equivalent a day in 2030, enabling the capacity to increase production out to 2035. The UK player’s exploration campaign in Egyptian waters was conducted with the Valaris DS-12 drillship last year.
The energy giant’s drilling campaign is designed to speed up the development and production of gas reserves to extend the use of existing production facilities in the West Nile Delta.
The UK firm, together with Eni, signed a deal with the Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS) for hydrocarbon exploration activities in the Mediterranean.