Egypt to drill 35 new gas wells by 2025

Egypt’s Minister of Petroleum and Mineral Resources Tariq al-Molla announced that his country plans to drill 35 new natural gas wells by June 2025. According to a written statement from the Egyptian Prime Ministry, Prime Minister Mustafa al-Medbouli received Minister of Petroleum and Mineral Resources Tariq al-Molla. Following the meeting, Molla stated that his country plans to drill 45 natural gas wells in the Mediterranean and the Nile Delta by 2025, and that 10 of these were realized in the 2022-2023 fiscal year. Molla added that 35 new natural gas wells with an investment exceeding $1.5 billion will be drilled by the end of the 2024-2025 fiscal year, which ends in June 2025, and that these are aimed at increasing the country’s production rates and reserves. Molla noted that the 10 natural gas wells opened have provided new discoveries, and that the most important of these is the Nargis gas reserve in the Mediterranean. Molla did not provide information on the locations of the new wells to be opened. Egypt, which has reached a level of self-sufficiency in natural gas in recent years, is carrying out intensive work to increase its oil and natural gas reserves.