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Egypt plans $5.7bn oil and gas exploration campaign

17 December 2025

Egypt plans to drill 480 exploratory wells, with total investment estimated at $5.7bn, over the next five years, according to Karim Badawi, the country’s minister of petroleum and mineral resources.

Speaking at a conference in Cairo, Badawi said that Egypt’s oil and gas sector was stabilising after a period of decline.

He said that his ministry was targeting an increase in gas production for the first time in four years.

The government is also aiming for self-sufficiency in crude oil production within five years, he said.

Egypt is aiming to boost crude production by introducing investment incentive packages and utilising new production technologies.

Badawi highlighted specific capital commitments from international partners to develop oil and gas resources over the next five years. These included Italian company Eni’s commitment to invest $8bn, as well as London-headquartered BP’s plan to invest $5bn.

He also highlighted Arcius Energy’s plan to invest $3.7bn. Arcius Energy is a joint venture of BP and Adnoc’s XRG.

The $5.7bn exploration programme includes 101 wells scheduled for drilling in 2026.

Badawi said that seismic survey operations would expand to cover 100,000 square kilometres in the Western Desert and 95,000 square kilometres in the Eastern Mediterranean using Ocean Bottom Node (OBN) technology.

Renewable energy strategy

Addressing the national energy strategy, Badawi said the government aims to increase the share of renewable energy in electricity generation to 42% by 2030.

He said this would enable natural gas to be redirected to value-added industries, such as petrochemicals and fertilisers, to boost exports.

On the transition to green energy, the minister cited plans to reduce reliance on traditional fuels and open investment in sustainable aviation fuel (SAF), green ammonia and bioethanol.

Efficiency measures in the sector have already reduced carbon emissions by 1.4 million tonnes, he said.

Recently, Egypt announced a $200m deal with Qatar to produce aviation fuel from used cooking oil.

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Wil Crisp

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