Egypt reports 112 oil and gas finds
Egypt announced the successful completion of exploration activities over the past two fiscal years, resulting in 112 new oil and gas discoveries, including 88 crude oil discoveries and 24 natural gas discoveries, after drilling 149 exploratory wells. Among the most notable is the "Dennis" gas discovery in Port Said. Preparations are also underway to sign 13 new agreements with investments exceeding one billion dollars, which include drilling 120 wells, in addition to conducting a seismic survey of the Western Desert region to increase the chances of discovering oil and gas in areas that have not previously seen oil exploration activities. During the fiscal years 2024/2025 and 2025/2026, 19 exploration and production agreements were signed with investments exceeding 823 million dollars, accompanied by a commitment to drill 134 wells to support Egypt's oil and gas sectors.
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