Within the framework of the Minister of Petroleum’s strategy to intensify research and exploration activities and increase production, the Egyptian Natural Gas Holding Company (EGAS) signed four new agreements with Shell, Eni, ARCIUS Energy and Russia’s State-Owned Zarubezhneft to explore for gas and oil in the Mediterranean and the Delta. The agreements cover the drilling of 10 wells with a total minimum investment of more than $340 million.

The agreements were formally signed by Mahmoud Abdel Hamid, Chairman of EGAS, in the presence eof Karim Badawi, Minister of Petroleum and Mineral Resources.

The first agreement was signed by Dalia Elgabry, Vice President and Country Chair of Shell Egypt, which involves investments of $120 million and the drilling of three wells in the Mediterranean’s Merneith offshore area,. Shell has been partnering with Egypt for over 110 years, during which it supported the country in monetizing its natural resources.

The second agreement was signed by Francesco Gaspari, President of the International Egyptian Oil Company (IEOC), ENI’s subsidiary in Egypt, in the presence of Wail Shaheen‏, Vice President of bp Egypt; and Ali Almana, Manager of International Upstream and Exploration at Qatar Petroleum, Eni’s partners in the concession. The agreement is in the East Port Said offshore area of the Mediterranean Sea, with investments of $100 million and the drilling of three wells.

The third was signed by Yassin Rahlib, Zarubezhneft Vice President in Egypt, in presence of Rustem Bakirov, the company’s General Manager; and Mikael Kobrak, Zarubezhneft Chief Geologist. The agreement is for the North Khatatba onshore area in the Nile Delta, with investments of up to $14 million and the drilling of four wells.

The fourth agreement was signed by Naser Al Yafei, CEO of ARCIUS Energy, a partnership between bp and ADNOC Group ‘s XRG. The agreement is in the North Damietta offshore area of the Mediterranean Sea, with investments amounting to approximately $109 million.

At the end of July 2025, the Egyptian General Petroleum Corporation (EGPC); and EGAS signed a new agreement with Italy’s Eni, represented by its Egyptian subsidiary, IEOC ; and British bp, to begin exploration activities in the Mediterranean Sea. The agreement includes drilling an exploratory well in the Temsah concession area in the coming months, as part of plan to enhance natural gas exploration and support opportunities for discoveries.