The Egyptian Natural Gas Holding Company (EGAS) is targeting an additional 250 million cubic feet of natural gas per day from the Zohr and West Mina fields in the Mediterranean before the end of the year, alongside a further 80 million cubic feet per day from the Meleiha fields in the Western Desert by the end of September, following the completion of the second phase of the gas processing plant.

The targets were announced during EGAS’ General Assembly, chaired by Minister of Petroleum and Mineral Resources Karim Badawi, to approve the company’s results for fiscal year 2025/2026.

EGAS Executive Managing Director Yassin Mohamed reviewed the company’s key results for the fiscal year, noting that exploration, drilling and field development activities had been intensified to maximize Egypt’s gas resources and increase production.

EGAS awarded four new gas exploration blocks in the Mediterranean and Nile Delta, with investments approaching $200 million to drill nine wells. The company also finalized five new gas exploration agreements involving investments of $240 million and commitments to drill 14 exploration wells, in addition to signing a development agreement for the North Atoll field.

The company recorded nine new discoveries, including eight gas discoveries and one oil discovery, adding around 2.8 trillion cubic feet of gas reserves. Three additional gas exploration wells are currently being drilled and are scheduled for completion before the end of the year.

EGAS also identified 16 new gas exploration opportunities, comprising seven offshore and nine onshore prospects. The company plans to drill 16 wells during the current fiscal year targeting estimated resources of around 6 trillion cubic feet, potentially supporting additional production over the medium term.

Results from the Western Mediterranean seismic survey have helped attract new investments from TotalEnergies and Chevron, while EGAS is preparing to launch a seismic survey project in the Eastern Mediterranean in October.

The company has also completed 307 square kilometers of 3D seismic surveys across EGAS exploration areas, as well as a 4D seismic survey covering around 2,307 square kilometers in the West Nile Delta deepwater areas of the Mediterranean.

EGAS implemented nine gas field development projects and connected 28 new wells to the production network, with investments totaling $1.12 billion. It also launched an international bidding round for gas exploration across eight areas in the Mediterranean, Nile Delta and North Sinai.

The company highlighted the significance of drilling the Velox-1 well in the Western Mediterranean, where positive hydrocarbon indications pointed to an active petroleum system in the area, potentially opening new opportunities for crude oil exploration in the Western Mediterranean.

As part of efforts to secure domestic energy supplies, EGAS met 100% of the electricity sector’s fuel requirements throughout the year.

The company also connected 804,000 residential units to the natural gas network during the year, bringing the total number of connected homes to around 16.2 million and extending the service to approximately 69 million people. Natural gas was also introduced to 58 new areas across Egypt for the first time.

EGAS additionally implemented projects worth EGP 14 billion to strengthen and improve the efficiency of Egypt’s national gas transmission network, enhancing its capacity to secure supplies for consumers and different sectors of the economy.