During a meeting with Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, Chevron’s Vice President of Exploration, Kevin McLachlan, reaffirmed the company’s commitment to strengthening its partnership with Egypt’s petroleum sector and exploring new investment opportunities.
US energy giant Chevron has expressed interest in expanding its natural gas exploration activities in Egypt, highlighting the country's strategic importance within its Eastern Mediterranean portfolio and its investment potential.
During a meeting with Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, Chevron’s Vice President of Exploration, Kevin McLachlan, reaffirmed the company’s commitment to strengthening its partnership with Egypt’s petroleum sector and exploring new investment opportunities.
The discussions focused on Chevron’s ongoing operations in Egypt, future exploration plans, and recent drilling results from the Nargis-2 gas well in the Mediterranean Sea.
The well delivered encouraging results, confirming the extension of gas-bearing formations previously identified at Nargis-1 and revealing an additional gas-bearing layer. These findings support further technical assessments to determine the discovery’s resource potential and evaluate possible development options.
Chevron currently holds interests in six offshore exploration blocks in Egypt: Nargis, North Dabaa, Lotus, Northwest Atoll, North Simian, and North Cleopatra. The company participates in the North Cleopatra block alongside Shell, which operates the concession.
The meeting also addressed progress on the development of Cyprus’ Aphrodite gas field and plans to connect its production to Egypt’s existing gas infrastructure.
Both sides reviewed ongoing efforts to finalize the agreements and technical arrangements required before a final investment decision can be made. The project would allow gas from Aphrodite to be transported to Egypt for processing and liquefaction, supporting the country’s ambition to strengthen its position as a regional natural gas trading hub.
Badawi emphasized the importance of accelerating the evaluation and development of promising gas discoveries to increase domestic production and maximize the economic value of Egypt’s energy resources.
He also reiterated the government’s commitment to maintaining a stable and transparent investment environment, meeting its obligations to international partners, and introducing incentives to encourage further exploration and production investments.
McLachlan, meanwhile, highlighted Egypt’s advanced gas infrastructure and promising exploration opportunities as key factors supporting Chevron’s long-term interest in the country.
