Chevron Targets Egypt for Major Oil Exploration Push

US energy company Chevron plans to increase its exploration activity in Egypt as part of a broader program to raise spending on oil and gas exploration by more than 50% compared with 2025.

The Financial Times reported that Chevron's vice president of exploration, Kevin McLachlan, stated the company is planning to drill 20 exploration wells and around five to six appraisal wells next year as it expands its global exploration program.

Chevron's exploration acreage worldwide has doubled since 2024, according to the report.