Egypt is preparing to launch a new international bid round for oil and gas exploration in four concessions at the Red Sea through the Egypt Upstream Gateway (EUG), Minister of Petroleum and Mineral Resources Karim Badawi announced during meetings held on the sidelines of the World Energies Summit in London.

Egypt plans to drill about 480 new oil and gas exploration wells over the next five years with investments exceeding $5.7 billion, Minister of Petroleum and Mineral Resources Karim Badawi announced during his keynote speech at the World Energies Summit in London.

Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of a drilling contract between bp and Valaris for five new natural gas wells in Egypt’s Mediterranean Sea.

Burullus Gas Company has brought a second well, Sparrow West-1, into production at a rate of 40 million cubic feet of gas per day.

The Ministry of Petroleum and Mineral Resources has completed the evaluation of bids for seven new oil and gas exploration and production areas, offered through the Egypt Upstream Gateway (EUG).

The Egyptian Natural Gas Holding Company (EGAS) has inked a memorandum of understanding (MoU) with ExxonMobil Egypt Upstream Limited to apply a new production-sharing system in the petroleum sector, tied to the latter's ongoing exploration activities in two Mediterranean blocks.

bp plans to boost Egypt’s natural gas production by 160 million cubic feet per day from two wells in the King Mariout and Fayoum deepwater concessions in the Mediterranean Sea during the second half of 2025.

Shell, in partnership with Petronas, plans to invest around $300 million in drilling operations within the West Delta Deep Offshore Concession as part of Phase 11.

British Petroleum (bp) has completed the drilling operations at the El Fayoum-5 gas discovery well in the North Alexandria offshore concession

Minister of Petroleum and Mineral Resources Karim Badawi has directed the Egyptian Natural Gas Holding Company (EGAS) to develop an urgent plan to accelerate the development of undeveloped gas discoveries.

Bid rounds for 13 oil and gas exploration and production areas across different geological basins have been concluded, drawing expected investments exceeding $700 million.

Egypt has signed two agreements worth $13.5 million to boost crude oil production at the Western Desert.

Eni, the Italian energy company, plans to start producing 100 million cubic feet of natural gas per day from the Nour concession area in the eastern Mediterranean by mid-2026.

Dana Gas, a UAE-based energy company, is set to resume its drilling activity in Egypt starting March, following the receipt of overdue payments from the Egyptian General Petroleum Corporation (EGPC).

bp has commenced production from the second development phase of the Raven field, part of the West Nile Delta (WND) project in Egypt, with an expected output of 220 billion cubic feet of gas and 7 million barrels of condensate.

The US company Apache will launch an intensive drilling program in Egypt’s Western Desert in March, aiming to add 80 million cubic feet of natural gas per day to its production with investments exceeding $60 million.

Egypt estimates the initial reserves of bp’s newly announced natural gas discovery in the King Mariout concession in the northern Mediterranean Sea at 3 to 4 trillion cubic feet.

US energy company ExxonMobil will start drilling two exploratory natural gas wells at the Cairo and Misri concessions in Egypt’s Mediterranean Sea during the first quarter (Q1) of 2026.

Shell Egypt and its partners are set to begin drilling three new natural gas wells by the end of January as part of its development project for the 11th phase of the West Delta Deep Marine (WDDM) in the Mediterranean Sea.

The General Petroleum Co (GPC) is planning to drill 41 new wells in the Eastern and Western Deserts and the Gulf of Suez to explore and produce oil and natural gas.