Egypt accelerates oil and gas exploration with 100+ new wells in 2026

Plans are under way to drill 101 exploratory wells in 2026 as part of a broader push to strengthen national oil and gas reserves, according to discussions held by the Ministry of Petroleum and Mineral Resources with the American Chamber of Commerce.

The programme follows a period of production stabilisation reached by the end of 2025, after earlier declines were reversed. Natural gas supplies have been secured for all domestic sectors since July, providing a stable base for the next phase focused on increasing output while continuing to meet local demand. Expanded cooperation with the private sector has been identified as a key pillar of the strategy.

Monthly payments to foreign partners are being maintained to support investor confidence, alongside the introduction of more flexible incentive packages aimed at encouraging upstream exploration and development. Regional energy connectivity also remains a priority, with particular emphasis on strengthening ties with Cyprus.

To improve supply flexibility, Floating Storage and Regasification Units are being deployed with a combined capacity of 2.75 billion cubic feet per day, enhancing the ability to secure gas supplies as required and respond to fluctuations in demand. Downstream plans include major refining projects scheduled between 2026 and 2030 to move towards self-sufficiency.

These include expansions at the Middle East Oil Refinery, which are set to raise capacity to 160,000 barrels per day, and the diesel complex operated by the Assiut National Oil Processing Company. In parallel, the mining sector is expected to play a larger economic role.

Development plans focus on leveraging resources within the Arabian-Nubian Shield and existing infrastructure, including specialised mining ports, with the aim of increasing the sector’s contribution to Gross Domestic Product.