Drilling of the offshore Velox-1X exploratory well in the North Cleopatra concession in the Western Mediterranean has revealed promising oil indicators, confirming a functioning petroleum system and crude oil in the area. These results boost the chances of the first crude oil discovery in the Western Mediterranean, pending completion of evaluation and technical studies.
Drilling began on May 23, 2026, and successfully reached planned geological targets at a final depth of about 6,500 meters. Shell operates the well in cooperation with the Egyptian Natural Gas Holding Company (EGAS), Chevron, a U.S. oil company, and Egypt’s Tharwa Petroleum. QatarEnergy is completing procedures to join the partnership. The operation has yielded encouraging geological results, laying the groundwork for a new phase of exploration in the area. Velox-1X is the fourth well in Shell’s 2026 drilling program
The results are now being evaluated after collecting a crude oil sample and analyzing technical data to determine next steps, including possible additional exploratory wells. Positive indicators highlight the untapped potential of the Western Mediterranean and raise new hopes for oil and gas discoveries.
The well is located about 90 kilometers off the Egyptian coast. Drilling, conducted with the Stena IceMAX drillship, finished 10 days ahead of schedule and under budget, reflecting the efficiency of the operation.
On July 11, 2026, Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, visited Velox-1X. The well is the deepest offshore well in the Mediterranean and a key frontier exploration project expected to provide valuable geological data, attract new investment, and support Egypt’s future hydrocarbon production
