The Egyptian Natural Gas Holding Company (EGAS) has signed a preliminary agreement with bp to drill five new natural gas wells in the Mediterranean Sea. The agreement marks a significant step in strengthening Egypt’s energy sector and supporting the country’s ambition to expand domestic gas production.

Under the terms of the agreement, bp will carry out exploratory and development drilling in promising offshore areas of the Mediterranean, with the potential to enhance Egypt’s position as a key regional hub for natural gas. The five planned wells are expected to contribute to boosting production capacity, ensuring reliable supplies for the local market, and creating opportunities to increase exports through Egypt’s liquefied natural gas facilities.

EGAS Chairman stated that the agreement reflects Egypt’s commitment to fostering strategic partnerships with leading international energy companies and underscores the country’s continued success in attracting investment to its offshore exploration sector. He added that the cooperation with BP builds on a long-standing partnership that has played a central role in unlocking some of Egypt’s most important natural gas discoveries.

A bp spokesperson affirmed the company’s commitment to supporting Egypt’s energy strategy and highlighted the importance of the Mediterranean as a world-class gas basin. He noted that bp is working closely with Egyptian authorities to bring forward new supplies that will contribute to both domestic energy security and the wider energy transition.

The signing of this preliminary agreement represents an important milestone in Egypt’s efforts to expand its natural gas production and maintain its role as a leading energy hub in the Eastern Mediterranean.

KeyFacts Energy: EGAS Egypt country profile   l   KeyFacts Energy: bp Egypt country profile