EGAS plans to drill 17 exploratory wells in FY2026/27

Updated 3/15/2026 10:01:00 AM

Arab Finance: The Egyptian Natural Gas Holding Company (EGAS) plans to launch a new gas exploration tender in 2026 across several blocks in the Western Mediterranean, along with the drilling of 17 exploratory wells during fiscal year (FY) 2026/2027.

This announcement was made during EGAS' general assembly meeting, chaired by Minister of Petroleum and Mineral Resources Karim Badawi, where Sayed Selim, the company’s Executive Managing Director, reviewed its budget for FY 2026/2027.

EGAS intends to commence the first phase of the Eastern Mediterranean seismic survey project in the second half (H2) of the year.

The meeting also addressed recent exploratory wells, including Dennis West 1X, Sirius, and Jannat-1, while preparing for the drilling of four more wells during H2 FY2026/2027.

Moreover, the company plans to implement six new projects and complete three existing ones, bringing 51 wells online during FY2026/2027.

Selim pointed out that EGAS is working to add 25 wells by conducting four projects and completing another one during the January-June 2027 period.

During H1 FY2025/2026, EGAS completed gas connections to 385,000 residential units, and aims to provide gas to 800,000 residential units in FY2026/2027.

For his part, Badawi affirmed that the company plays a key role in securing and maintaining natural gas supplies to all sectors, most notably power plants, industrial segments, and households.

He stressed the importance of early preparations for the summer season by expediting the connection of new wells to the production network, in addition to intensifying well maintenance efforts.