Wednesday, 27 May 2026
Egypt signs new gas exploration deal with Eni and BP
The Egyptian Ministry of Petroleum and Mineral Resources has announced a new incentive agreement with energy giants Eni (Italy) and BP (UK) to expand gas exploration efforts in the Mediterranean Sea.
The deal was signed in New Alamein by top officials from the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), Eni, and BP, in the presence of Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, and Eni’s North Africa and Levant President, Martina Obitsi.
Under the agreement, a new exploratory well will be drilled in the Temsah concession area in the coming months, aiming to unlock further natural gas resources. Minister Badawi highlighted that the partnership is a key part of the ministry’s strategy to maximize local oil and gas production and tap into the country’s promising offshore reserves.
The agreement also underscores Egypt’s strong, long-term collaboration with its international partners and the importance of advanced technologies owned by Eni and BP in enhancing national energy security and benefiting all stakeholders.