Dragon Oil, Carlyle Group, Energean and Artemis Energy are among the groups expected to bid for assets in BP’s West Nile Delta natural gas development off Egypt, as the British major works to simplify its portfolio and cut debt and costs.

BP produces about 60% of Egypt’s natural gas through joint ventures in the East Nile Delta and fields it operates in the West Nile Delta. The company has invested more than $35 billion in Egypt over six decades but produced 518 million cubic feet per day of gas in the country last year, down about 40% from 2024 and nearly 60% from 2023, as domestic production has struggled to keep pace with rising demand.

In April, BP announced a gas and condensate discovery off Egypt’s coast and was earlier this year awarded the North-East El Alamein and West El Hammad offshore exploration concessions.

Source: oedigital.com