Egypt Targets 20% Increase in Exploration and Production Activities by 2026
Egypt's Ministry of Petroleum and Mineral Resources (MoPMR) plans to increase exploration and production activities by around 20% in 2026. According to Karim Badawi, this goal is part of a five-year strategy to expand upstream activities, accelerate the development of new discoveries, and boost domestic oil and gas production.
The increased crude oil supplies and refinery upgrades are expected to raise utilization rates to over 80% in 2026, boosting domestic petroleum product output and reducing imports. Badawi mentioned that $4.5 billion will be invested in refinery development to support higher-value exports and reduce reliance on imports.
Another significant project is the Meliha gas processing station in the Western Desert, which is scheduled to come online next September with a production capacity of up to 100 million cubic feet per day (mmcf/d) of natural gas. This will support domestic gas production and reduce import needs.