The Arab Republic of Egypt Has Announced the Discovery of Three New Oil and Natural Gas Fields
The authorities of the Arab Republic of Egypt have announced the discovery of three new hydrocarbon fields—including both oil and natural gas reserves—located onshore and offshore. The discoveries were made by the national oil and gas companies Khalda Petroleum Company, Petrobel, and GUPCO (Gulf of Suez Petroleum Company).
It is specified that two of the fields contain oil reserves, and one is a gas field. In particular, a subsidiary of Petrobeldiscovered an oil-bearing formation in the Gulf of Suez, while GUPCO discovered oil reserves in the Western Desert. In addition, Khalda has discovered natural gas reserves in the Western Desert with a potential production capacity of 30 million standard cubic feet of natural gas per day.
It is worth noting that in February 2025, authorities also reported the discovery of a hydrocarbon field near Egypt’s Mediterranean coast.
According to Neftegaz i Kapital, the Arab Republic of Egypt has faced a significant increase in domestic demand for hydrocarbons, particularly for natural gas, in recent years. At the same time, domestic oil and gas production has started to decline. As a result, Egypt was forced to halt exports of liquefied natural gas (LNG)—which had previously generated hard currency revenues for the country—and instead begin importing natural gas, primarily in the form of LNG. To enable these imports, Egypt has begun purchasing and leasing regasification terminals.
In response, the Egyptian government has set a clear objective to increase hydrocarbon production, and national oil companies are now working to fulfill this target. Foreign partners are also playing a significant role in these efforts. For example, the Italian company Eni, which operates Zohr—the country’s largest but now depleting natural gas field—resumed drilling in autumn of last year. Other major players such as BP, ADNOC, and additional international companies are also active in Egypt.
