Egypt seeks to tap untapped gas reserves in Mediterranean

Egypt’s state-owned gas company is exploring ways to bring previously untapped natural gas discoveries in the Mediterranean into production, a move aimed at boosting domestic energy output and attracting foreign investment, the Petroleum Ministry said Wednesday.

The Egyptian Natural Gas Holding Company (EGAS) held a workshop with XRG Arcius Energy, a joint venture between BP and ADNOC’s investment arm XRG, to review technical and economic strategies for developing the undeveloped fields, which contain proven gas reserves. The officials discussed connecting these sites to existing production facilities to accelerate extraction and make fuller use of Egypt’s energy infrastructure.

Representatives from Arcius Energy expressed strong interest in the investment opportunities, encouraged by incentive packages and facilitation measures offered by Egypt’s Ministry of Petroleum and Mineral Resources to foreign investors.

The workshop included senior officials from the petroleum ministry, EGAS executives, and representatives from engineering firms ENPPI and Petrojet, which are expected to play key roles in implementing the projects.

Egypt has been working to stabilise domestic gas supply and position itself as a regional energy hub, leveraging its Mediterranean discoveries and extensive processing and export infrastructure.

Attribution: Amwal Al Ghad English