Canada’s Mediterra Secures Oil Exploration License in Southern Egypt

Egypt has awarded Canadian oil company Mediterra Energy Corporation an exclusive exploration license in the North Baraka concession near Aswan in southern Egypt, a senior government official told Asharq on condition of anonymity.

The official said the agreement, based on a direct bid submitted by Mediterra to Ganoub El Wadi Petroleum Holding Company (Ganope), a subsidiary of the Egyptian General Petroleum Corporation, will be finalized in the fourth quarter of 2025. The North Baraka block was offered as part of Egypt’s wider portfolio of upstream investment opportunities.

Under the terms of the concession, Mediterra is expected to drill three exploratory wells in the area. The company is also expanding its activities in the Kom Ombo basin, where it already operates the Baraka and West Baraka fields. Geological surveys suggest commercially viable reserves of crude oil in the region, according to officials.

Mediterra has strengthened its position in Egypt’s oil sector in recent years. The company’s daily production has climbed above 22,000 barrels in 2025, driven by operations in partnership with the state-owned General Petroleum Company (GPC) across fields in Sidr, Matarma, and Asl in the Sinai Peninsula.

Industry observers say the award reflects Cairo’s strategy of attracting foreign investment into underexplored frontier basins while diversifying production beyond Egypt’s mature fields in the Western Desert, Gulf of Suez, and Sinai.

The official added that Egypt plans to sign three additional exploration agreements worth over $120 million this year, as the country continues to position itself as a regional hub for oil and gas exploration and production.