Egypt signs framework deal with BP, Harbour Energy to develop Mediterranean gas fields

Egypt’s energy authorities have signed a framework agreement with British energy major BP (LSE:BP) and its partner Harbour Energy (LSE:HBR) to establish the executive framework for developing oil and gas reserves in the North King Mariout area and the Arish field in the Mediterranean Sea, according to a statement from Egypt’s Ministry of Petroleum on May 7, cited by Al Watan. 

The agreement was signed by the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holding Company, alongside the two energy companies, to increase production rates and accelerate development activities.

Under the agreement, the parties will pursue the joint development of the Arish field within the North Alexandria concession linked to EGPC, together with the North King Mariout area, operated by EGAS, to maximise economic returns through integrated operations across both sites.

Petroleum and Mineral Resources Minister Karim Badawi said the move forms part of broader cooperation with international partners to fast-track gas production projects under Egypt’s five-year strategy to raise output and benefit from undeveloped discoveries. He noted the importance of continued technical coordination among operational teams, including drilling engineers, to improve efficiency and speed up implementation plans.

Badawi also praised the partnership’s previous achievements in managing assets across projects in the North Alexandria and West Nile Delta regions, pointing to their contribution to Egypt’s efforts to strengthen domestic gas supplies and support energy security.