Egypt aims to reach a production capacity of 6.6 billion cubic feet per day by 2027 and is courting international majors to get there. It says it has paid its overdue debts to investment partners, while Eni plans more drilling in the country.
Egypt is pushing to reverse falling output, and it aims to reach a production capacity of 6.6 billion cubic feet per day of natural gas by 2027. The plan rests on more drilling, new exploration incentives and greater investment from international oil and gas majors.
Egypt cites new wells and cleared debts
Output has fallen in recent years, largely because of ageing Mediterranean offshore fields, particularly the giant Zohr gas field. The government now wants to connect new discoveries to existing infrastructure to cut costs and speed up development.
Petroleum Minister Karim Badawi said Egypt brought 591 new wells into production and made 113 discoveries between July 2024 and June 2026. He added that the country has attracted higher levels of investment after paying the debts it owed to its partners.
President Abdel Fattah Al-Sisi, meanwhile, announced plans to double crude oil and condensate production under a five-year energy strategy. The government also plans to invest over $4 billion to improve six refineries and cut its fuel import bill.
Eni commits to more drilling
Italian major Eni plans to expand in Egypt. Its CEO, Claudio Descalzi, outlined plans to drill 30 exploration wells and 200 development wells in Egypt. Eni has invested around $8.5 billion in the country to date. Its subsidiary produced approximately 242,000 bpd of oil equivalent in 2025.
In April, Eni made a gas and condensate discovery in the Temsah Concession, with preliminary estimates of 2 trillion cubic feet of gas and 130 million barrels of associated condensate. The find sits less than 10 km from existing infrastructure. Eni said in August that first gas would arrive in less than two years.
Eni also announced plans in October for phase two of its Meleiha project in the Western Desert. The new facility is expected to process up to 100 million standard cubic feet of gas per day once operational.
Source: Oilprice.com
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