Egypt plans to boost oil, gas output ahead of summer 2026 – minister
Egypt aims to increase domestic crude oil and natural gas production to reduce reliance on imports and secure supply for summer 2026, Petroleum Minister Karim Badawy said on Thursday.
Speaking at a regular meeting with senior executives from the petroleum and mining sectors, Badawy outlined plans to accelerate the integration of new wells under a five-year strategy extending to 2030, targeting higher output from both existing and newly discovered fields. He said the ministry would soon announce new investment incentives to encourage participation from domestic and international energy companies.
“This year, we plan to drill more than 100 exploratory wells, as part of a broader programme aiming for nearly 500 wells by 2030,” Badawy said, noting ongoing seismic surveys designed to attract additional investment.
Badawy highlighted the coordinated work with the Ministry of Electricity and Renewable Energy, which ensured energy supply during last summer’s record electricity demand. He said flexible operational plans are in place to manage potential fluctuations in gas consumption for power generation.
The minister also pointed to the gasification vessel system, established last year to support the industrial and electricity sectors, which will continue to back domestic supply while the government prioritises raising local production to achieve self-sufficiency.
Egypt is positioning itself as a regional gas hub, Badawy added, leveraging limited LNG exports and preparing to receive and trade Cypriot gas.
He praised the petrochemical sector and reaffirmed efforts to enhance the mineral and mining investment climate, including upcoming aerial surveys to attract new projects. Badawy stressed occupational health and safety as a top priority, with ongoing inspections and monitoring across operational sites.
He concluded by urging sector leaders and company heads to work as a unified team to overcome challenges, boost production, and support investment in Egypt’s energy and mining sectors.
Attribution: Amwal Al Ghad English