Skip to content
Back to Guavy Wire
Commodities

Egypt Fast-Tracks Mediterranean Gas Field Tie-In for Production Growth

Instruments
Oil Natural Gas
Share

Egypt's Ministry of Petroleum and Mineral Resources is accelerating field development in the Eastern Mediterranean waters to boost domestic gas production. Minister Karim Badawi visited the Pharaonic Petroleum Company (PhPC) production site in Port Said Governorate, where he emphasized the need to expedite the connection of the Harmattan gas field to existing processing infrastructure.

Harmattan is expected to yield 200 million cubic feet of natural gas per day and 4,400 barrels of condensate. Badawi directed PhPC to focus on expediting work to connect the offshore field, while evaluating all solutions to shorten the project's implementation timeline.

The move aims to speed up the start-up of the field, enabling the utilization of its reserves and production potential to support natural gas supplies to the domestic market. Egypt has set a target to drill more than 100 exploratory oil and gas wells in 2026 in cooperation with investment partners.

More on Commodities

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

© 2026 Guavy Inc