Egypt’s Ministry of Petroleum and Mineral Resources has announced three new oil and gas discoveries in the country’s Western Desert.
These discoveries were made by Khalda Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation and U.S.-based Apache Corporation.
According to the ministry, the new finds are expected to yield approximately 12 million barrels of oil equivalent, including 4 million barrels of recoverable reserves.
Daily production from these sites is estimated at 2,750 barrels of oil and condensates, along with 20 million cubic feet of natural gas.
These developments are anticipated to boost Khalda Petroleum Company’s gas production to over 480 million cubic feet per day, with projections suggesting an increase to 500 million cubic feet in the future.
Recently, Egypt has witnessed a renewed interest in its oil sector.
Prime Minister Madbouly started the year by engaging in advanced discussions with senior Chevron officials to explore ways to enhance oil and gas production.
In January, Saipem drillship arrived in Egypt to support Eni’s operations at the Zohr gas field and has planned to resume drilling there soon.
Zohr is one of Egypt’s largest gas discoveries. Egypt’s Ministry of Petroleum and Mineral Resources confirmed that the Saipem 10,000 drillship entered Egyptian seas to begin drilling two deepwater wells there.
In February, BP discovered new oil and gas reserves in the King Mariout offshore block in Egypt’s northern Mediterranean.
The North African country secured a whopping $3 billion deal with TotalEnergies and Shell for liquefied natural gas (LNG) projects aimed at boosting the nation’s gas supply.
The deal will help the most populous Arab country secure 60 cargoes of liquefied natural gas (LNG) for 2025, helping to cover most of its LNG demand throughout the year.
Although its domestic gas output is expected to fall by 22.5% by the end of 2028, analysts anticipate that Egypt’s power consumption will rise by 39% over the next decade.
This future expectation justifies the increase in oil and gas exploration and production activities currently pushed by the government.
Developments like these align with Egypt’s ongoing efforts to enhance its energy sector and reinforce its position as a regional gas hub.
