{"id":673580,"date":"2025-10-15T00:00:00","date_gmt":"2025-10-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/15\/oil-ministry-unveils-usd-5-7-bn-plan-to-drill-hundreds-of-exploration-wells\/"},"modified":"2025-10-15T00:00:00","modified_gmt":"2025-10-15T00:00:00","slug":"oil-ministry-unveils-usd-5-7-bn-plan-to-drill-hundreds-of-exploration-wells","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/15\/oil-ministry-unveils-usd-5-7-bn-plan-to-drill-hundreds-of-exploration-wells\/","title":{"rendered":"Oil Ministry unveils USD 5.7 bn plan to drill hundreds of exploration wells"},"content":{"rendered":"

The govern<\/strong>ment\u2019s plan for oil and gas exploration over the next five years <\/strong>includes drilling 480 exploration wells at a total cost of USD 5.7 bn<\/strong>, Oil Minister Karim Badawi said<\/a> at the World Energies Summit. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

In 2026 alone<\/strong>, the state plans to drill 101 wells \u2014 67 in the Western Desert, 14 in the Mediterranean, nine in the Gulf of Suez, and six in the Nile Delta \u2014 as part of efforts to boost local production.<\/p>\n

Seismic surveys are being launched to identify fresh exploration prospects<\/strong>, including a survey in the East Mediterranean by EGAS and the Schlumberger-Viridien<\/a> alliance. Similar projects are underway in the Western Desert and the Gulf of Suez. <\/p>\n

Recent incentives have supported expansion<\/strong>, with 21 new exploration agreements worth some USD 1.1 bn signed in the past year and 300 wells brought online, Badawi said. Meanwhile, gas output rose in August, marking the first monthly increase in years, Badawi noted.<\/p>\n

DATA POINT- <\/strong>Petrochemical exports are projected to increase to USD 4.2 bn by 2030, up from USD 2.4 bn this year, through expanded production and new projects.<\/p>\n

REMEMBER- <\/strong>Egypt plans to stop importing LNG<\/a> by 2030 and significantly up exports by 2027.<\/p>\n

The Oil Ministry will soon launch an international tender for oil and gas <\/strong>exploration in the Red Sea <\/strong>through the Egypt Upstream Gateway (EUG), according to a ministry statement<\/a>. <\/p>\n

AND- The China National Offshore Oil Corporation expressed interest in investing in <\/strong>Egypt\u2019s oil and gas sector<\/strong>, particularly in the Mediterranean and Red Sea, according to a separate statement<\/a>. Badawi also met with executives from Capricorn Energy, Woodside Energy, and Pharos Energy to discuss expanding their operations in the country. <\/p>\n","protected":false},"excerpt":{"rendered":"

ALSO- Petrochemical exports are planned to increase to USD 4.2 bn by 2030<\/p>\n","protected":false},"author":1,"featured_media":673581,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-673580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"0574d430-0222-4223-9ad6-f0515eec1bc0","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/6\/113.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt unveils USD 5.7 bn plan to drill hundreds of exploration wells","related_issue":[673572],"teaser":"ALSO- Petrochemical exports are planned to increase to USD 4.2 bn by 2030","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.6fdd91a3-dd4e-43f9-b66a-cff070d3d0eb.mp3"},"yoast_head":"\nOil Ministry unveils USD 5.7 bn plan to drill hundreds of exploration wells - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/10\/15\/oil-ministry-unveils-usd-5-7-bn-plan-to-drill-hundreds-of-exploration-wells\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil Ministry unveils USD 5.7 bn plan to drill hundreds of exploration wells\" \/>\n<meta property=\"og:description\" content=\"ALSO- Petrochemical exports are 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"Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/152.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":624648,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/16\/govt-signs-over-usd-1-bn-in-exploration-agreements-with-shell-petronas-others\/","url_meta":{"origin":673580,"position":4},"title":"Gov\u2019t signs over USD 1 bn in exploration agreements with Shell, Petronas, others","author":"enterpriseam admin","date":"16 September 2018","format":false,"excerpt":"**#3 Gov\u2019t signs >USD 1 bn in exploration agreements with Shell, Petronas, others: The Oil Ministry signed a deep-water oil and gas exploration agreement with Royal Dutch Shell and Malaysia\u2019s Petronas worth around USD 1 bn, according to an Oil Ministry statement on Saturday (pdf). 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