Clay Neff, President of Exploration Operations at Chevron, announced that the company is expanding its footprint in Egypt by drilling two new gas wells this year, one in the Narges field and another in the Western Mediterranean in partnership with Shell.

Speaking during the Egypt Energy Show (EGYPES 2026), Neff emphasized that Egypt and the Eastern Mediterranean hold a central position in Chevron’s investment strategy for the coming years.

He added that the company plans to increase its operational production capacity in the region by up to 50% over the next five years, a move he said is expected to significantly boost cash flows and profitability from its regional portfolio.

Neff noted that Chevron has been operating in Egypt for nearly nine decades, having first entered the market in 1937 through petroleum product distribution before expanding into exploration and production activities roughly five years ago.

He revealed that Chevron currently produces more than 2 billion cubic feet of gas per day in the Eastern Mediterranean, with a substantial portion transported to Egypt through an integrated network of pipelines and liquefaction facilities.

The company Is also advancing expansion plans that include upgrading existing infrastructure and increasing operational capacity, while continuing engineering and design work on Cyprus’s Aphrodite gas project, for which a recent government agreement allows the construction of a subsea pipeline linking Cyprus to Egypt.

Neff said Chevron hopes to reach a final investment decision on the project early next year, expressing optimism about progress given the strong cooperation between Cairo and Nicosia.

He stressed that Chevron prioritizes securing domestic and regional gas demand before directing supplies toward exports to Europe or international markets.

Neff concluded that Egypt’s extensive infrastructure, particularly its pipeline network and liquefaction plants, represents a significant strategic advantage, noting that expanding new discoveries will gradually support a return to higher export levels without compromising local market needs.