Egypt has signed four oil and gas exploration agreements worth more than $340 million with international companies, as it seeks to boost domestic production amid mounting energy pressures.
The deals, announced by the petroleum ministry on Saturday 30/8/2025, cover offshore blocks in the Mediterranean and the Nile Delta and include commitments to drill 10 new wells and were signed by the state-owned Egyptian Natural Gas Holding Company (EGAS).
The largest agreement, valued at $120 million, was signed with Shell International for exploration in the Merneith offshore area of the Mediterranean, including three wells.
Italian energy giant Eni committed $100 million for three wells in the East Port Said offshore block.
A $14 million deal with Russia's Zarubezhneft will cover the North Khatatba concession in the Nile Delta, where four wells are to be drilled.
Meanwhile, Arcius Energy -- a joint venture between British Petroleum (BP) and XRG, the investment arm of the UAE's state oil firm Abu Dhabi National Oil Company (ADNOC) -- will invest $109 million in the North Damietta offshore area.
The agreements come as Egypt's energy sector is under strain due to falling supplies from gas fields and rising electricity consumption.
Officials say regional tensions have further exacerbated the sector's challenges.
The petroleum ministry stated that the new contracts are part of a broader strategy to expand exploration, secure domestic supply, and reinforce Egypt's role as a regional energy hub.