CAIRO, Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, has announced an ambitious five-year strategy to expand oil and gas exploration and production across the country.
The plan includes drilling around 480 exploratory wells with total investments exceeding $5.7 billion, marking one of Egypt’s largest exploration programs in recent years. In 2026 alone, the Ministry targets 101 new wells—spread across the Western Desert (67), Gulf of Suez (9), Mediterranean Sea (14), and Nile Delta (6)—aimed at strengthening domestic energy supply. according to Egypt Today.
Badawi credited the government’s incentive measures introduced in 2024 for attracting fresh international interest, leading to 21 new agreements worth $1.1 billion and the addition of 300 wells to the production map, which reversed years of declining gas output by August 2025.
He revealed that a strategic roadmap through 2030 is being developed to sustain this growth, noting that Eni plans to invest $8 billion and BP will contribute $5 billion toward new exploration projects. Four additional exploration deals valued at over $340 million were recently signed with Eni, Shell, and Arkeus Energy.
He also emphasised the country’s commitment to expanding petrochemical production, targeting exports worth $4.2 billion by 2030, up from $2.4 billion in 2025.
