US-based Apache, US-based Chevron, UAE-based Dragon Oil, Malaysian Petronas, and French-founded global energy technology company SLB highlighted opportunities to expand oil and gas investments in Egypt, citing improved investment terms, the settlement of outstanding payments to international partners, and the potential to leverage existing infrastructure to develop gas resources and increase production.

Speaking at the Mediterranean Offshore Conference and Exhibition (MOC 2026) in Alexandria, executives from the companies discussed investment conditions, gas development opportunities, and ways to maximize the value of Egypt’s petroleum resources and infrastructure.

Greg McDaniel, Senior Vice President of International Assets at Apache, said commercially viable gas project terms encourage investment and increase domestic supplies. He noted that the agreement between Apache, the Ministry of Petroleum and Mineral Resources, and the Egyptian General Petroleum Corporation (EGPC) on gas had supported the expansion of the company’s gas development program in the Western Desert.

In late 2024, Apache reached a new gas sales agreement with Egypt that improved the commercial terms for incremental gas production, making further gas development in the Western Desert more economically attractive. The agreement builds on a 2021 modernization deal with EGPC, under which Apache committed at least $3.5 billion to exploration, development, and production operations in the Western Desert.

Channa Kurukulasuriya, Chevron’s Country Manager in Egypt, said the company sees Egypt as a potential regional gas aggregation hub, supported by offshore and onshore facilities, pipeline networks, gas processing plants, and liquefied natural gas (LNG) export facilities.

Meanwhile, Farid Al Hashimi, Executive Director of Growth and Business Development at Dragon Oil, said the company was exploring offshore opportunities in the Mediterranean with the Egyptian Natural Gas Holding Company (EGAS), focusing on shallow-water gas resources that could be connected to existing Egyptian infrastructure to supply the domestic market.

Al Hashimi said Dragon Oil’s experience in the Gulf of Suez, where it acquired BP’s assets in the Gulf of Suez Petroleum Company (GUPCO), had helped it increase production and extend the operating life of mature fields.

He added that the company was seeking assets where it could create value and partners aligned with its approach of bringing production to market quickly. Dragon Oil could also draw on the supply chains of its parent group, Emirates National Oil Company (ENOC), and its Dubai operations to support its expansion into Mediterranean opportunities.

Hani Esmat, CEO of Petronas in Egypt, said improved relations between the Egyptian government and international investors had translated into new investment decisions. He cited the recent approval by Petronas and Shell of Phase 12 of gas development in the West Delta Deep Marine concession as evidence of their confidence in Egypt’s energy potential and long-term investment environment.

Yasser El Tawansi, General Manager of SLB, a global energy technology company founded in France, in Egypt, Sudan, and the Eastern Mediterranean, highlighted the role of digital solutions and operational integration in improving efficiency across Egypt’s natural gas value chain, from exploration and production to processing and manufacturing.