Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed the signing of two key agreements on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025. The agreements are major steps to attract new investments and enhance gas exploration and production (E&P) activities in the Eastern Mediterranean.

The agreements, signed in the presence of Olivier Le Peuch, CEO of SLB, and Peter Whiting, Vice President of Viridien, aim to implement cutting-edge seismic survey technologies for gas exploration in the East Mediterranean and to develop the Egypt Upstream Gateway (EUG) — Egypt’s digital investment platform for exploration and production, and to attract global energy players to Egypt’s petroleum sector.

The first agreement will implement Ocean Bottom Node (OBN) technology across an area of 95,000 square kilometers (sq km) in the East Mediterranean. The project, awarded through the Egyptian Natural Gas Holding Company (EGAS) bid, will be executed by a consortium of SLB and Viridien. Badawi emphasized that the project is a vital step toward maximizing Egypt’s gas resource potential.

The high-resolution data generated would significantly reduce exploration risks and intensify drilling operations, boosting local production. The seismic survey will be implemented in three phases, commencing in 2026, with the first phase covering an area of 18,000 sq km.

In a related move to further develop digital capabilities, the Minister also witnessed the signing of a three-year extension of the Egypt Upstream Gateway (EUG) contract between Salah Abdel Karim, Chairman of the Egyptian General Petroleum Corporation (EGPC), and Sherif Bayoumi, President of Schlumberger Egypt. The extension represents an additional investment of $44 million in the platform’s development.

Since its launch in 2021, the EUG platform has played a crucial role in driving E&P investments, attracting at least $1.2 billion across 52 exploration blocks and facilitating the drilling of approximately 130 wells. Badawi highlighted that the EUG has become a cornerstone of Egypt’s digital transformation in the energy sector, offering investors rapid access to reliable data, accelerating decision-making, and strengthening Egypt’s position as a regional hub for energy investment.