Wednesday, 27 May 2026
Egypt signs four major gas exploration deals with global energy partners
In a significant step to bolster its natural gas sector, Egypt has signed four new exploration agreements with leading international energy companies, the Ministry of Petroleum and Mineral Resources announced this week. These partnerships are set to inject over $340 million in minimum investments into gas and oil exploration activities in the Mediterranean Sea and Nile Delta.
The signing ceremony was attended by Eng. Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, underscoring the government’s commitment to expanding the country’s energy resources and stimulating foreign investment.
Among the notable agreements:
- Shell will explore the Mirnith offshore area in the Mediterranean, pledging $120 million in investments to drill three wells.
- Italy’s Eni, in collaboration with BP and QatarEnergy, will invest $100 million in drilling three wells in the East Port Said offshore area in the Mediterranean.
- Russia’s Zarubezhneft will focus on the North Khatatba onshore area in the Nile Delta, committing $14 million to drill four wells.
- Arcius Energy, a partnership between BP and the Abu Dhabi National Oil Company’s XRG, will invest $109 million in the North Damietta offshore area.
These strategic agreements were signed by Eng. Mahmoud Abdel Hamid, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS), with top representatives from the respective partner companies present.
This latest round of deals is a key pillar of Egypt’s ongoing strategy to intensify exploration and production, with the goal of increasing national gas reserves and output. Ministry officials hope these partnerships will accelerate the country’s energy sector growth, create new opportunities for Egyptian specialists, and continue positioning Egypt as a prominent player in the regional and global energy market.
The signings highlight Egypt’s positive investment climate and its ability to attract long-term commitments from major global energy players, reflecting a shared optimism for future discoveries and cooperative energy development.