King Mariout Gas Discovery Estimated at 4 Trillion Cubic Feet

The newly announced King Mariout natural gas discovery in the North Mediterranean is estimated at 3 to 4 trillion cubic feet. The discovery, made by multinational British oil and gas company BP , was confirmed by Prime Minister Mostafa Madbouly. BP began drilling two wells in the King Mariout and Fayoum concessions in January, with an investment of USD 160 million.

Egyptian natural gas holding company EGAS is in talks with BP to establish production infrastructure, aiming to bring King Mariout online by Q3 2025. A second well is still being drilled to confirm commercial viability, with completion expected in Q2 2025.

Egypt currently produces 4.3 billion cubic feet of gas daily, and consumes 6.2 billion cubic feet of gas daily. The government targets 5 billion cubic feet per day by year-end.

BP’s exploration aligns with its strategy to fast-track commercially viable discoveries. Egypt has also introduced incentives for foreign energy firms, including export allowances and higher gas prices.