Egypt
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Egypt’s newest round of drilling agreements advances its quest to boost investment in mature fields to stop the freefall in gas production. -
NewMed has targeted the fourth quarter of 2025 to declare a final investment decision (FID) on Phase 1B of the Chevron-operated Leviathan gas project expansion after striking Israel’s largest ever gas export deal.
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The contracts build on Cairo’s decades-long strategic energy alliance with Moscow, which will soon include nuclear energy.
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Global majors remain committed to boosting investment in Egypt’s offshore gas production as they eye Cairo’s underutilized LNG capacity.
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By boosting gas supplies to Egypt’s home market, Cairo can return its focus to developing an LNG export hub.
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The new wells at Zohr are key to a plan to return Egypt’s gas production back to “pre-crisis” levels by June 2025.
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Arcius’ remit covers the Shorouk concession, home to the Zohr gas field whose production decline has been fueled by a lack of investment.
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Updates about global exploration and production activities and developments.
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Chevron CEO Mike Wirth urges more optimistic and balanced conversations regarding the energy transition.
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Updates about global exploration and production activities and developments.
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