Karim Badawi, Minister of Petroleum and Mineral Resources, announced that a total of 75 wells were drilled between July 2024 and May 2025.

Of these, 69 wells were evaluated, resulting in 40 discoveries, with total reserves estimated at 42 million barrels of oil and condensates, and 1.3 trillion cubic feet of gas.

Speaking at a press conference, the minister stated that the Mediterranean region witnessed the drilling and evaluation of 8 wells, leading to 5 gas discoveries with reserves totaling 1.2 trillion cubic feet of gas and 4 million barrels of oil and condensates.

He also noted that the Gulf of Suez and Eastern Desert saw the drilling of 12 wells, 11 of which have been evaluated, resulting in 6 oil discoveries with total reserves of 1.7 billion cubic feet of gas and 6 million barrels of oil and condensates.

The Western Desert, he added, recorded the highest number of discoveries with 29 finds (oil and gas), comprising estimated reserves of 32.7 million barrels of oil and condensates and 46.5 billion cubic feet of gas.

Badawi further announced that 12 exploration agreements were signed during the fiscal year 2024–2025 and the period leading up to it, with total investments amounting to $631 million. These agreements fall within the ministry’s broader strategy to boost investment in oil and gas exploration.

Additionally, 15 more agreements are in the final stages, with projected investments of $298.48 million.

He noted that the expected daily output from these activities will add approximately 41,000 barrels of oil and 1.37 billion cubic feet of gas to current production levels.

“These figures reflect the Ministry’s firm commitment to increasing investments in the oil and gas sector,” Badawi said, “with the goal of enhancing reserves, raising production, and ultimately supporting the national economy and achieving energy self-sufficiency.”