Egypt Nile Delta Gas Discovery

Egypt's Ministry of Petroleum announced a new natural gas discovery in the Nile Delta, with an estimated production rate of 50 million cubic feet per day. The discovery was made at the Nidoco N-2 exploratory well in the West Abu Madi concession, operated by Eni in partnership with BP and Egypt — Egyptian General Petroleum Corporation through Petrobel. The well was drilled using advanced directional drilling technologies, allowing access to shallow offshore reserves from an onshore location, which improves cost efficiency. This discovery is crucial for Egypt as it aims to boost domestic energy production, reverse declining gas output, and strengthen its energy security. Minister Karim Badawi highlighted that the discovery, along with increased output from existing fields, reflects the sector's progress in settling dues owed to foreign partners, with full clearance targeted by the end of June. This move is expected to reinforce confidence among partners and support an attractive investment environment, encouraging international companies to expand exploration and drilling activities in Egypt.