Egypt reports nine new hydrocarbon finds

Egypt has focused on expanding the oil and gas sector through the announcement of nine new discoveries, including eight gas fields and one oil field, adding approximately 2.8 trillion cubic feet of gas reserves. Additionally, plans are underway to drill 16 exploratory wells during the current fiscal year with the aim of investing resources estimated at around 6 trillion cubic feet of gas. The government seeks to increase domestic production to reduce dependence on imports, targeting an additional roughly 330 million cubic feet per day by the end of the year, by exploiting fields such as Zohr, West Mena, and Meliha. This effort includes signing agreements and making investments totaling hundreds of millions of dollars to strengthen discoveries and development in the sector.