Egypt, TotalEnergies review gas exploration expansion plans

Egypt offers incentives for advanced oil, gas drilling

Petroleum Minister Karim Badawi met with international partners to discuss boosting Egypt’s oil and gas output, announcing new incentives for horizontal drilling and hydraulic fracturing. He highlighted Egypt’s progress in reducing arrears to foreign partners from $6.1 billion in June 2024 to $714 million in April 2026, with plans to settle all dues by June. Badawi urged partners to move forward with the five-year plan to maximize local producti…

Egypt, TotalEnergies review gas exploration expansion plans

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, held talks with the Managing Director of TotalEnergies in Egypt and Cyprus, Pascal Breant, on the company’s planned expansion of gas exploration activities, focusing on the deep Herodotus Basin in the western Mediterranean. In a statement on Thursday, April 30, 2026, the Ministry of Petroleum said the minister welcomed TotalEnergies’ intentions to increase its investments in natu…