ARCIUS Energy and bp are set to begin offshore gas drilling operations in the Mediterranean Sea, following the arrival of the drillship Valaris DS-12 in Egypt to support the development of new exploration wells.
The vessel is scheduled to begin operations with one production well and one exploratory well for bp. This is to be followed by the drilling of two exploratory wells-Atoll West and Nofret- for ARCIUS Energy, a joint venture between ADNOC Group and bp, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR) on March 23.
The move comes as part of MoPMR’s broader strategy to drill more than 100 exploratory oil and gas wells in 2026, in cooperation with international investment partners. ARCIUS and bp have committed to invest $3.7 and $8 billion, respectively, over the next five years.
