Egypt plans to drill over 100 exploratory oil and gas wells in 2026, following a boost of nearly 200,000 barrels per day in crude output over the past year, according to Oil Minister Karim Badawi.
Speaking to the cabinet’s information centre, Badawi reported that the country recorded 75 new oil and gas discoveries during the 2024–2025 fiscal year, which ended on June 30, 2025. Additionally, 383 new wells were brought into production.
“These discoveries and development initiatives have added about 1.1 billion cubic metres of gas and 200,000 barrels per day of crude oil to Egypt’s output,” he said.
He also highlighted that an increase in refining capacity helped the country save around $6.7 billion in import costs for petroleum products. The upcoming drilling campaign forms part of a five-year expansion strategy involving around $5.7 billion in investments to develop 480 wells.
Badawi noted that Egypt’s current refining capacity stands at roughly 34 million tonnes per year, while petrochemical production capacity is around four million tonnes daily.
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