Canadian company TAG Oil Ltd. has announced a three-year extension to the evaluation period for the BED-1 oil concession, located in Egypt’s Western Desert. The agreement, signed with Badr Petroleum Company, the concession holder, sets the new deadline to 13 October 2028. During this period, TAG Oil commits to drilling two additional wells to collect further data on the Abu Roash “F” reservoir. The company will then decide whether to proceed with full commercial development, based on the results obtained.
A strategic lever in TAG Oil’s Egyptian expansion
BED-1 is one of TAG Oil’s key assets in the region, and the extension enables the company to enhance its technical assessment of the reservoir. The programme includes well drilling and extensive operational monitoring to evaluate the long-term viability of the targeted area. No production commitments have been announced at this stage, as the company remains focused on geological analysis and reservoir behaviour under different extraction configurations.
This development follows the recent acquisition of the Southeast Ras Qattara block, also located in Egypt. The addition of this concession expands TAG Oil’s asset portfolio in the country, where it continues to pursue an anchoring strategy through local partnerships and progressive investments in onshore exploration.
Operational leadership maintained through end of 2025
In parallel with the BED-1 announcement, TAG Oil reported that it had amended the employment contract of its Vice President and Chief Operating Officer, Suneel Gupta. He will remain in his role until 31 December 2025, with the option of extension by mutual agreement. This continuity in technical leadership comes as the company scales up its operations in Egypt.
In a statement, TAG Oil’s Executive Chairman and Chief Executive Officer, Abby Badwi, noted that the extended evaluation phase would allow for a deeper understanding of the field’s potential, while also reaffirming the strategic relevance of the company’s recently acquired Egyptian assets.
