The Petroleum Ministry laid out the plan this week, revealing that 101 wells are already slated for 2026, spread across Egypt’s main producing regions. The announcement didn’t specify where all that capital is coming from—never a minor detail—but the country has been cozying up to the majors again, signing new exploration deals with BP (BP.L) and Eni (ENI.MI) to scour the Mediterranean for the next Zohr-sized win.
The request comes as Egypt, which only became a net importer of the fuel in 2024 and more than doubled the amount of LNG it bought this year, struggles to assess its demand. The nation purchased a large volume of shipments earlier in 2025, with some of the deals having an element of flexibility.
The North Cleopatra block lies in the frontier Herodotus basin in the Mediterranean Sea, and covers more than 3,400 square kilometres in water depths reaching 2,600 metres. Following the transaction, which is subject to approval by the Egyptian government, Shell will retain a 36% operating interest in the block, with Chevron holding 27% and Egypt’s Tharwa Petroleum Company holding 10%.
In a milestone for Egypt’s upstream sector, ARGAS has purchased 30,000 STRYDE Range+ nodes and the company’s Nimble seismic system, marking the first deployment of nodal technology for onshore seismic acquisition in the country.
State-owned Israel Natural Gas Lines Ltd (INGL) signed an agreement to allow the Chevron Corp-led Leviathan consortium to use the planned Nitzana pipeline to ship more natural gas from the Israeli offshore field to Egypt, Leviathan co-venturer NewMed Energy LP said Tuesday.
The Egyptian General Petroleum Corporation (EGPC) has signed three new exploration agreements worth more than USD 121 million with international companies in onshore and offshore areas, Egypt’s Ministry of Petroleum and Mineral Resources announced on Sunday.
The drilling campaign will target five wells at depths between 300 and 1,500 metres and is scheduled to begin in 2026. Any resulting production will be routed to BP’s existing infrastructure in the West Nile Delta.
Signed by state-owned Egyptian Natural Gas Holding Company (EGAS), the deals call for the drilling of 10 wells in onshore and offshore areas as part of efforts to ramp up upstream activity. Egypt has been facing output declines due to field depletion and delays in production investment plans.
Egypt will boost its contracted purchases of natural gas from Israel’s Leviathan field under a new agreement starting next year, deepening the country’s dependence on imports of the fuel for the long haul.
Begonia-2 is expected to produce 141,583 cubic metres (5 mcf) of gas per day and is the first of 11 wells planned in a USD 100 million programme to boost company reserves and gas output in Egypt. The well is located in the New El Manzala concession and operated by El Wastani Petroleum Company, a joint venture between Dana Gas and the Egyptian Natural Gas Holding Company.