Egyptian Petroleum Minister Inspects First Exploration Well Operations at New Oil Field in Gulf of Suez

Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, recently visited the Gulf of Suez region to inspect the drilling progress of Well No. 133. The well is being operated by Belayim Petroleum Company using the Trident 16 drilling platform owned by ADES. It marks the first well to be drilled under the framework of Eni's new investment plan in Egypt.

Accompanying Minister Badawi during the inspection were Salah Abdel Karim, CEO of the Egyptian General Petroleum Corporation (EGPC); Dr. Samir Raslan, Deputy Minister for Agreements and Exploration; Salvat El Gendy, Chairman of Belayim Petroleum Company; and senior executives from Eni's subsidiary in Egypt. The operations team briefed the ministerial delegation on the latest activities and technologies employed in the area's oil fields, aiming to fully exploit resource potential and expand production prospects. Badawi stated, "The launch of Eni's new project reflects the company's confidence in Egypt's oil and gas sector and its commitment to intensifying research, exploration, and production activities. This will enhance crude oil production capacity, thereby reducing import expenditures."

The Trident 16 drilling platform is currently operating in the Sinai oil field within the Gulf of Suez. Well No. 133 is designed to reach a depth exceeding 2,600 meters. This well is the first drilling project implemented following the new investment agreement signed between Eni and the Egyptian General Petroleum Corporation (EGPC) last November, which covers the Gulf of Suez, the Sinai Peninsula, and the Nile Delta regions. Previously, in February 2025, Egypt signed an agreement with a consortium comprising Eni and TotalEnergies for the joint development of oil and gas resources within the exclusive economic zone of Cyprus.