Egypt reports 112 oil and gas finds in two years
Egypt recorded the discovery of 112 new oil and gas finds during the financial years 2024/2025 and 2025/2026, including 88 discoveries of crude oil and 24 of natural gas, after drilling 149 exploratory wells, among the most notable of which was the "Denis" discovery in Port Said. Egypt also announced the preparation of 13 new oil concession agreements with investments exceeding one billion dollars, which include drilling 120 wells. Additionally, a seismic survey was carried out in the Western Desert to enhance oil and gas exploration in an area that had not previously seen any petroleum activities. During the same period, 19 exploration and production agreements were signed, with investments reaching $823.1 million, along with exploration grants totaling $93.5 million.
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