Egypt Seeks to Boost Energy Supply Through New Discoveries, Petroleum Spokesman Says

Egypt is working eagerly to secure its domestic energy needs through new oil and gas discoveries, according to the Ministry of Petroleum. 

In a televised interview, Mahmoud Nagi, spokesperson for the Ministry of Petroleum and Mineral Resources, said the state’s energy strategy focuses on ensuring uninterrupted supply for electricity generation and both heavy and light industries.

Nagi highlighted a recent major gas discovery by Eni in the Mediterranean Sea, estimated to hold around 2 trillion cubic feet of gas and 130 million barrels of condensates.

He described the find as one of Egypt’s largest in the past four to five years, adding that it sends positive signals about the sustainability of production and the strength of the national economy.

Nagi also noted that Egypt has significantly reduced its outstanding dues to foreign partners—from $6 billion to $1.3 billion—with plans to fully settle them by June. This, he said, has strengthened investor confidence and facilitated smoother production operations.

He further mentioned that coordination between the government and international energy companies has been key to maintaining and increasing output, supported by advanced technologies and modern exploration techniques.

In the same connection, Nagi revealed that the government aims to achieve self-sufficiency in petroleum products by 2030 by maximizing natural gas and oil production while attracting investments from major global players, including Shell, BP, Chevron, and ExxonMobil.