CAIRO – 11 September 2025: Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi revealed that the petroleum sector managed to save roughly $3.5 billion from the national import bill by ensuring sufficient gas supplies to meet domestic needs, particularly during the summer peak.
Speaking at the general assembly of the Egyptian Natural Gas Holding Company (EGAS) to review results for the 2024/2025 fiscal year, Badawi highlighted the pivotal role of seismic surveys in drawing international oil and gas companies to Egypt.
He explained that these surveys provide detailed subsurface data that encourage investment in exploration and production activities.
During the meeting, EGAS CEO Mahmoud Abdel Hamid outlined the company’s performance, noting that nine new exploration blocks were awarded and six final agreements were signed, with total investments reaching $479 million and signature bonuses amounting to $14.5 million.
He also announced 29 new gas discoveries in the Mediterranean, Western Desert, and Gulf of Suez, in addition to three successful wells in the Mediterranean and Delta, which added 1.85 trillion cubic feet of reserves. Multiple seismic survey programs were also completed across exploration zones.
Abdel Hamid further reported that seven new gas development projects and 23 production wells were completed with total investments of $1.7 billion.
On the domestic side, about 572,000 households were connected to the national gas grid during the year, raising the overall total to 15.5 million units.
He added that EGAS converted 47,500 vehicles to run on compressed natural gas (CNG), and expanded infrastructure by establishing 34 fueling stations and 17 vehicle conversion centers across various governorates.
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