Karim Badawi, Minister of Petroleum and Mineral Resources, met with a delegation from France’s TotalEnergies to discuss investment opportunities in the deep waters of the Western Mediterranean, specifically within the Herodotus Basin.

​During the meeting, the company expressed its interest in the promising opportunities in that area, given its exploratory potential that could contribute to increasing natural gas production. The delegation also reviewed the possibility of implementing an intensive exploration program.

​Badawi emphasized that expanding exploration activities and offering more opportunities to international companies are core pillars of the Ministry’s strategy to boost gas production. He highlighted that seismic survey projects in new areas have helped provide promising investment opportunities.

​The Ministry is adopting new incentive models for investment in oil and gas exploration in new areas, such as the Western Mediterranean, the Red Sea, and the Southern Western Desert, to increase their competitiveness and enhance their appeal to global investors, Badawi noted.

​At the conclusion of the meeting, they agreed to sign a framework cooperation agreement between the Egyptian Natural Gas Holding Company (EGAS) and TotalEnergies in the upcoming period.

The Herodotus Basin, spans over  90000 km2 and represents a promising yet underexplored deepwater frontier with hydrocarbon potential. In February, Shell Egypt revealed the start of its 2026 Mediterranean drilling campaign of  a multi-well program, including Velox exploration well in the North Cleopatra area, within the Herodotus Basin.