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The initial results of the Fayoum 5 explorationwell located in North Alexandria, which is in the west of the Mediterranean, showed the presence of a gas-bearing layer, and electrical recordings are being made in the coming days.
The well was drilled to delineate the discovery confirmed in well 6507/5-10 S (Slagugle) and to perform a formation test to gain a deeper understanding of the reservoir properties and connectivity within the hydrocarbon-bearing layers. After the completion of operations, the well was permanently plugged and abandoned.
Three key themes emerged from the update: major exploration success in the Gulf of Mexico, oil price commentary, and a demonstration of financial resilience. A key advantage: many of these discoveries are located near existing infrastructure, allowing BP to tie back new wells quickly and cost-effectively. billion (up from $1.2
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