CAIRO - 30 August 2025: Egypt’s state-owned gas company, EGAS, has signed four agreements with international energy firms worth a total of $340 million to boost gas exploration, the Ministry of Petroleum announced.
The agreements aim to intensify exploration and production activities in the Mediterranean and Nile Delta regions, enhancing Egypt’s energy resources.
Under the agreements, Shell will explore the Marnith Offshore area in the Mediterranean with an investment of $120 million, drilling three wells. Italy’s Eni will develop the East Port Said Offshore area with $100 million, drilling three wells in collaboration with BP and QatarEnergy.
Russian company Zarubezhneft will target the North Khattabia area in the Nile Delta with a $14 million investment and four wells. Meanwhile, Arkus Energy will explore the North Damietta Offshore area in the Mediterranean with an estimated investment of $109 million.
The signing ceremony was attended by Petroleum Minister Karim Badawi and EGAS CEO Mahmoud Abdel Hamid, marking a strategic step in Egypt’s efforts to expand investment in the gas sector.
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