Egypt is preparing for one of its most ambitious upstream campaigns in years, with more than 100 exploratory oil and gas wells scheduled for drilling in 2026, according to Minister of Petroleum and Mineral Resources Karim Badawi. The announcement reflects renewed momentum in Egypt’s energy sector after a year of steady production gains, major discoveries and declining reliance on imported petroleum products.
Figures released through the Cabinet’s Information Centre show that Egypt achieved 75 new oil and gas discoveries during fiscal year 2024/2025, which ended on 30 June 2025. These discoveries, combined with accelerated development work, helped bring 383 new wells into production across various concessions.
Badawi said the expanded drilling and development programme added approximately 1.1 billion cubic metres of natural gas and 200,000 barrels per day (bpd) of crude oil to Egypt’s total output over the past year. The increase represents a significant boost for the country’s hydrocarbon portfolio at a time when both domestic demand and export commitments require stable supply.
The minister noted that rising refining activity has also delivered substantial fiscal savings. Higher local output, he said, helped reduce Egypt’s petroleum import bill by $6.7 billion, easing pressure on foreign currency reserves and supporting the state’s broader financial recovery plans.
Looking ahead, the Petroleum Ministry is launching a multi-year drilling and investment programme, with 2026 marking a peak year in exploration activity. The plan — part of a broader five-year development strategy — involves a total investment of roughly $5.7 billion to drill and develop 480 wells, reinforcing Egypt’s long-term strategy to strengthen self-sufficiency, increase reserves and expand export capacity.
Refining output currently stands at about 34 million tonnes per year, while Egypt’s petrochemicals production is estimated at around four million tonnes daily, reflecting substantial infrastructure capable of absorbing and transforming the new upstream volumes.
The intensified drilling campaign, combined with rising refining efficiency and ongoing partnerships with international energy companies, positions Egypt to consolidate its role as a key regional energy hub in the Eastern Mediterranean.
