Egypt has entered a new phase of offshore gas exploration with the arrival of the Valaris DS-12 in its territorial waters, marking the start of a drilling programme targeting four new wells in the Mediterranean Sea. This will be followed by the drilling of two additional exploratory wells for Arcius Energy, a joint venture between BP and ADNOC. The move reflects growing confidence among major international energy companies in Egypt’s investment climate, particularly within the petroleum sector. As part of its broader strategy, the ministry—alongside its partners—is pursuing an ambitious plan for 2026 that includes drilling more than 100 exploratory wells, in addition to development wells across existing fields. It also positions expanded exploration activity as a cornerstone for achieving steady and sustainable growth in domestic output, paving the way for a significant transformation in Egypt’s energy sector over the next five years.

Source: Daily News Egypt March 23, 2026 15:42 UTC