Egypt targets 100+ wells in 2026

Egypt is planning a sharp increase in upstream exploration activity, with more than 100 exploratory oil and gas wells scheduled for drilling in 2026, as part of a wider programme targeting around 500 wells by 2030.

According to the news report by Zawya, the plans were outlined by Karim Badawi, Minister of Petroleum and Mineral Resources, during a meeting with senior petroleum and mining officials at GASCO’s headquarters, where he reviewed recent sector performance and priorities for the coming years.

Badawi said boosting domestic crude oil and natural gas production remains the ministry’s primary focus, as Egypt seeks to curb its import bill and secure energy supply ahead of summer 2026. New wells are expected to be brought onstream under an accelerated five-year development plan running through to the 2029/2030 fiscal year.

He added that faster-paced exploration is intended to expand Egypt’s production capacity by unlocking new fields while also raising output from existing assets. Alongside this push, the government is preparing to introduce fresh incentives aimed at attracting both local and international investment into crude oil production.

Addressing energy security, Badawi highlighted close coordination with the Ministry of Electricity and Renewable Energy, which helped meet peak demand during last summer despite record-high electricity consumption. Technical cooperation between the two ministries is continuing to ensure adequate gas supplies for power plants in the months ahead, with a range of flexible scenarios in place to manage potential surges in demand.

Floating storage and regasification units (FSRUs) played a key role in meeting higher gas requirements from the power and industrial sectors in 2025, the minister said, adding that the system is expected to further support production growth and improve supply security in the coming summer.