Eni, Chevron Discuss Accelerating Gas Exploration in Egypt's Mediterranean, Red Seas

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi held a series of high-level meetings with global energy executives on the sidelines of the ADIPEC 2025 conference in Abu Dhabi, focusing on efforts to accelerate natural gas exploration and production in the Mediterranean and Red Seas.

Badawi met with Claudio Descalzi, CEO of Italy’s Eni, Egypt’s largest foreign energy investor, to discuss progress on joint projects and plans to fast-track exploration and production activities in Eni’s offshore concessions in the Mediterranean.

The minister praised the “deep-rooted partnership” between Egypt and Eni, which spans several decades, emphasizing the company’s key role in developing Egypt’s energy sector.

He underscored the importance of accelerated drilling programs to boost output from the Zohr gas field, which currently accounts for about 25% of Egypt’s total gas production. Badawi commended recent positive drilling results and reaffirmed Egypt’s commitment to maintaining a competitive and stable investment environment for international partners.

Badawi also highlighted Egypt’s growing role as a regional energy hub, welcoming a recent agreement to use Egyptian infrastructure to transport Cypriot gas. He confirmed that Egypt’s facilities are ready to receive gas from Cyprus’ Kronos field, adding that coordination between Egypt, Cyprus, and investment partners remains ongoing.

At the end of the meeting, the minister invited Descalzi to be Guest of Honor and keynote speaker at the Egypt International Energy Conference (EGYPS 2026).

In a separate meeting, Badawi met with Clay Neff, President of Exploration and Production at Chevron, to discuss the U.S. company’s current operations and future investment plans in Egypt, particularly in new frontier areas in the Red Sea.

Discussions covered Chevron’s ongoing projects and exploration programs, including joint ventures with Shell in two new Mediterranean concessions, as well as development plans for existing blocks such as Nargis and North Dabaa.

The minister invited Chevron to expand its investments in Egypt and take advantage of a new incentive framework the ministry plans to introduce, aimed at encouraging foreign investment and accelerating exploration activities.