Egypt is advancing its latest licensing round, which includes 13 offshore and onshore blocks across key hydrocarbon regions. The round is expected to close in the second half of 2025, preparing for accelerated growth in the upstream industry.
Egypt has set a target of drilling 586 oil and gas wells by 2030 and is strengthening collaboration with international partners to achieve this goal. Recent deals and exploration milestones align with this strategy, indicating a positive growth trajectory for the country's upstream oil and gas sector.
In May 2025, Egypt approved two transactions by Russian energy firm Lukoil, covering exploration and production rights for acreage in the South Wadi El-Sahl region of the Eastern Desert and the Wadi El-Sahl area. Energy major ExxonMobil signed a memorandum of understanding (MoU) for a new operational framework in the Cairo and Masry offshore concession areas of the Mediterranean Sea, while energy major Eni is spearheading a $26 billion investment strategy across three North African countries, including Egypt.
Egypt is also working to scale up its production and export capacity to support growing demand in both regional and international markets. Turkey is deploying a floating storage and regasification unit (FSRU) to Egypt, providing LNG storage and regasification services during peak demand periods in 2025. Another agreement was signed with energy infrastructure firm Höegh Evi for the supply of an FSRU, which will be situated at the Port of Sumed in Q4 2026.
Egyptian energy major Chevron announced plans to conduct a seabed survey in the eastern Mediterranean, aiming to develop a pipeline that will transport gas from Cyprus' Aphrodite field to processing facilities in Egypt. Badawi's insights are expected to support both upcoming projects and efforts to integrate regional markets. Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, will speak at the African Energy Week (AEW): Invest in African Energies 2025 conference in Cape Town.
“Egypt is not only assessing short-term production strategies but also implementing initiatives that ensure long-term growth across the upstream oil and gas industry. Spearheaded by Minister Badawi, the country is advancing its bold licensing strategy, offering blocks that have the potential to transform the exploration and production space. This approach signals a strong commitment by the government to establish a globally competitive and resilient energy sector in North Africa,” states Tomás Gerbasio, VP of Commercial and Strategic Engagement at the African Energy Chamber. -TradeArabia News Service
