Egypt plans to drill more than 100 exploratory wells by 2026 as part of an ambitious strategy to enhance domestic oil and gas production, Petroleum Minister Karim Badawi said on Tuesday.

Speaking during a roundtable meeting with members of the American Chamber of Commerce in Cairo (AmCham), chaired by Omar Mohanna, Badawi stated that the drilling programme targets both new exploration and the development of existing fields. The operations will span the Western Desert and the Red Sea to maximise the use of petroleum and gas resources.

Badawi said the government aims to achieve new discoveries that will support sustainable domestic production, paving the way for what he described as a qualitative shift in the sector’s output over the next five years. He added that President Abdel Fattah al-Sisi and the government, led by Prime Minister Mostafa Madbouly, are providing support to attract investment and deploy modern technology to exploit unconventional resources.

The minister’s comments come as Egypt works to bridge a domestic production gap. Recent sector developments include the successful drilling of a new well in the Gulf of Suez with a capacity of 2,500 barrels per day, and a gas discovery in the Mediterranean with estimated reserves of 2 trillion cubic feet. To meet current demand, Egypt has recently imported 15 shipments of American liquefied natural gas (LNG).

AmCham President Omar Mohanna noted that while the energy sector faces increasing geopolitical challenges in the region, Egypt maintains a unified strategy for renewable energy and energy transition.

He stated that fossil fuels, led by natural gas and oil, currently account for more than 80% of Egypt’s energy mix. However, intensive efforts are underway to increase the contribution of renewable sources, particularly solar and wind, to approximately 42% between 2030 and 2035. Mohanna cited the Benban solar park as a primary example of Egypt’s regional leadership in clean energy projects. 

Amr Abu Attia, head of the AmCham Petroleum and Gas Committee, said the completed energy projects have strengthened Egypt’s position as it seeks to become a regional energy hub. He added that the regular payment of financial dues to foreign partners has reinforced confidence in the Egyptian economy and demonstrated the state’s commitment to its strategic partnerships.

The ministry is focused on accelerating the application of modern technologies to increase crude oil and gas production rates significantly through the exploitation of unconventional resources, Badawi said.

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