EGAS plans to launch a new bid round in 2026, offering natural gas exploration licences across several areas in the Western Mediterranean.
Chairman and Executive Managing Director Sayed Selim said the plan includes drilling 17 exploratory wells during the coming fiscal year and starting the first phase of the seismic survey project in the Eastern Mediterranean in the second half of the year.
The meeting also reviewed the status of the West Denis-1, Sirius and Jannat-1 exploratory wells, along with preparations to drill four additional wells during the second half of FY 2025/26.
On the production side, EGAS plans to implement six new projects and complete three others in FY 2026/27, while adding 51 wells to the production map. During the second half of the current fiscal year, work is underway on four projects, with one more to be completed and 25 wells to be added.
Minister of Petroleum and Mineral Resources Karim Badawi said EGAS plays a central role in securing and sustaining natural gas supplies for all sectors of the state, especially power plants, industrial sectors and residential homes. He also stressed the need for early preparation for the summer season by accelerating the connection of new wells to the production map and intensifying well maintenance operations.
The meeting also covered efforts to meet domestic gas demand, secure supplies for the electricity and industrial sectors, reinforce the national gas grid and expand household gas connections. In the first half of the current fiscal year, 385,000 housing units were connected, while the target for FY 2026/27 is 800,000 units.
Under the Hayah Karima initiative, which aims to provide gas connections to 841 of the most-needed villages, work has been completed in 675 villages and the remainder is being finalized. About 43,000 cars were also converted to use compressed natural gas during the first half of the current fiscal year, with work on the plan still continuing.
Badawi said current events in the Middle East and their impact on energy supplies have highlighted the importance of Floating Storage and Regasification Units. He described FSRUs as an urgent strategic solution for securing imported LNG needs, supporting supply stability and meeting the requirements of different sectors, especially during crises.
Established in August 2001, EGAS is one of the main state-owned entities under Egypt’s Ministry of Petroleum and Mineral Resources. The company is responsible for managing Egypt’s natural gas sector, with exploration and production expansion forming part of its strategy to secure domestic energy needs.
