Egypt’s Zohr field currently contributes more than 23 percent of the country’s total gas production, with operator Eni planning to invest $8 billion over the next five years in Egyptian projects, Minister of Petroleum and Mineral Resources Karim Badawi has revealed. The investment will target projects in the Zohr, Dennis, Nour, and Narges fields, signaling renewed confidence in Egypt’s energy sector.
Badawi disclosed during a television interview that between late October and late December, more than $1.2 billion in foreign investments will be directed to over 100 exploration wells, with approximately 14 exploration wells expected in the Mediterranean region. The minister emphasized that the Mediterranean region would witness stability in production alongside further development and exploration plans.
“We want the partners to increase their investments in local production and to increase their investments in discovery processes to be able to add to reserves and production,” Badawi stated, highlighting the government’s strategy to restore production levels that had declined due to reduced operations by international companies facing delayed arrears.
Zohr, the largest natural gas field in Egypt and the Mediterranean, was discovered in 2015 and reached peak production of 2.7 billion cubic feet per day in 2019 before output declined in 2021. The field is operated by Eni alongside partners Rosneft, bp, and Mubadala Petroleum.
The minister explained that global economic pressures, currency fluctuations, and increased import bills strained Egypt’s ability to make timely payments to foreign partners, who scaled back investment and drilling programs, causing disruption of energy supply and contributing to power cuts experienced last year.
To counter this decline, the ministry prioritized restoring investor confidence and introducing investment incentives. In 2025, Egypt paid nearly $1 billion in dues, with $500 million disbursed in September and another $620 million scheduled for later in the year. Badawi added that investors regained trust and the rate of production began to increase in mid-2025 after months of joint work with international companies.
The government worked with partners to ensure timely payments, improve contract economics, and encourage reinvestment in key areas like the Western Desert and the Mediterranean, demonstrating Egypt’s commitment to maintaining its position as a significant energy producer in the region.
Source: egyptoil-gas.com