Egypt has signed a memorandum of understanding (MoU) between the petroleum sector and France’s TotalEnergies to cooperate in natural gas exploration activities across a large area in the West Mediterranean, in a move aimed at attracting new investments and expanding upstream activity.

The signing ceremony was witnessed by Prime Minister Mostafa Madbouly, along with Minister of Petroleum and Mineral Resources Karim Badawi, senior executives from TotalEnergies, and officials from the Egyptian Natural Gas Holding Company (EGAS), including Managing Director Saeed Salem.

The MoU was signed by EGAS CEO Sayed Salem and TotalEnergies Egypt and Cyprus General Manager Pascal Breant, in the presence of senior exploration officials from the French energy major.

Prime Minister Madbouly reaffirmed the government’s full support for efforts to attract more investment in exploration and production, stressing that incentives and facilitation measures are being offered to international partners to encourage new discoveries and boost output from existing fields.

He noted that recent discussions with global oil companies during the EGYPES energy conference highlighted strong confidence in Egypt’s investment climate and reform trajectory.

Minister Karim Badawi said the agreement establishes a technical framework for cooperation, including preliminary geological and subsurface studies aimed at reducing exploration risk and paving the way for future drilling and exploration activities in the region.

He added that the deal follows intensive high-level discussions with TotalEnergies leadership, including Chairman Patrick Pouyanné, and reflects renewed interest from the company in expanding its upstream presence in Egypt, particularly in the West Mediterranean area.

Badawi welcomed the return of TotalEnergies to exploration activities in Egypt, noting that partnerships with major international companies are a key pillar of the ministry’s strategy to boost production, secure domestic energy needs, and strengthen investor confidence.

He said the Mediterranean remains a strategic priority for exploration due to its high potential, supported by Egypt’s strong infrastructure and accumulated technical expertise, which continue to make the country an attractive destination for global energy investment.