Egypt to Drill 480 Oil & Gas Exploration Wells in Five Years

The Ministry of Petroleum and Mineral Resources has announced a five-year exploration plan worth USD 5.7 billion to drill 480 new oil and gas wells across several major regions, including the Western Desert, the Mediterranean Sea, the Gulf of Suez, and the Nile Delta. According to the ministry, the first phase in 2026 will include 101 wells, distributed as follows: 67 in the Western Desert, 14 in the Mediterranean, 9 in the Gulf of Suez, and 6 in the Nile Delta. The plan aims to enhance Egypt’s upstream production capacity and reinforce its position as a regional energy hub. The programme builds on recent exploration momentum, with 21 new agreements already signed—valued at roughly USD 1.1 billion—and 300 wells added to Egypt’s drilling map in 2025. Ongoing seismic surveys in the Western Desert and Gulf of Suez are also expected to accelerate new discoveries. Data from the Egypt Upstream Gateway (EUG) platform will support these exploration efforts by providing investors with real-time geological information to streamline operations and decision-making. The initiative forms part of Egypt’s long-term energy strategy, which includes plans to increase petrochemical exports to USD 4.2 billion by 2030, up from an estimated USD 2.4 billion in 2025, strengthening its role as a key player in the regional energy market.