CAIRO, 15 October 2025: Egypt has announced a $5.7 billion plan to drill 480 exploratory oil and gas wells by 2030, marking one of its most extensive energy exploration campaigns in recent years. The initiative is part of a national strategy to strengthen energy output and meet growing domestic and export demands. The plan, unveiled by Minister of Petroleum and Mineral Resources Karim Badawi, targets key regions across the country.
In 2026 alone, the Ministry aims to drill 101 wells, including 67 in the Western Desert, 14 in the Mediterranean Sea, 9 in the Gulf of Suez, and 6 in the Nile Delta. The projects are intended to support upstream production capacity through diversified regional exploration. Badawi confirmed that recent reforms enacted in 2024 helped attract renewed international investment.
Since those changes, Egypt has signed 21 exploration agreements totaling $1.1 billion in investment commitments, resulting in 300 wells being added to the national production grid by August 2025. The increased activity has contributed to a measured rebound in domestic gas output, which had declined over previous years. Multinational energy companies are also scaling up their involvement in the country.
Eni has committed $8 billion toward new exploration programs, while BP will contribute an additional $5 billion through joint projects. Four new contracts, valued at more than $340 million, were signed recently with Eni, Shell, and Arkeus Energy. These agreements cover additional blocks in the Mediterranean and onshore fields in the Western Desert.
Egypt announces five-year exploration initiative
The Ministry is currently finalizing a strategic energy roadmap through 2030 to coordinate exploration activity, production goals, and export capacity. A central component of the plan includes expanding petrochemical output. According to Badawi, Egypt aims to increase petrochemical exports from $2.4 billion in 2025 to $4.2 billion by the end of the decade.
In a separate development, Egypt’s state-owned EGAS signed a preliminary agreement with BP to drill five offshore gas wells in the Mediterranean Sea. The wells, located at water depths ranging from 300 to 1,500 meters, are expected to feed gas into Egypt’s West Nile Delta facilities. The deal reflects ongoing cooperation between international oil companies and Egypt’s energy authorities to develop offshore reserves.
Additional agreements have been signed in recent months with Apache, Dragon Oil, and Perenco, targeting expansion across the Gulf of Suez, Western Desert, and North Sinai regions. These contracts add to earlier deals signed with other operators as Egypt broadens its energy exploration footprint.
Western Desert remains exploration focus area
As of May 2025, Egypt’s natural gas production stood at approximately 3.5 billion cubic meters per month, down from peak levels recorded in 2021. The new exploration program is designed to stabilize and eventually increase output, particularly as the country seeks to meet growing internal energy demand and maintain its role as a gas exporter in the Eastern Mediterranean region.
The government’s upstream expansion strategy follows a series of efforts to restructure the sector, attract foreign direct investment, and modernize energy infrastructure. With significant capital commitments and new block awards, Egypt is advancing exploration and development efforts to support its long-term energy security and economic goals. – By Content Syndication Services.