Egypt’s Ministry of Petroleum and Mineral Resources plans to offer 62 investment opportunities through the Egypt Upstream Gateway, Minister Karim Badawi announced during a meeting with youth political leaders reviewing the sector’s investment pipeline.
Badawi said the ministry is running nine seismic survey programmes to identify new exploration areas, alongside two new projects in the Eastern Mediterranean and West Assiut, building on more than $17 billion in foreign investment commitments secured over the next five years.
He said arrears owed to international oil companies, which stood at $6.1 billion in June 2024, have been cut to $440 million as of May 2026, helping restore investor confidence and revive exploration activity. Badawi also pointed to recent discoveries, including the Denise gas find in the Mediterranean and a discovery at the West Abu Madi concession in the Nile Delta, noting that TotalEnergies has resumed gas exploration in Egypt.
Source: egyptoil-gas.com