Egypt is accelerating exploration efforts to address production declines and boost output, leveraging its strategic proximity to European markets.

The country’s latest oil and gas licensing round offers 13 offshore and onshore blocks across key regions in the Mediterranean Sea and Nile Delta.

The licensing round will be finalised in the second half of the year, with plans to sign five new agreements and amend an existing one for exploration and production.

Both international oil companies and regional players are investing to support Egypt’s oil and gas ambitions and generate greater returns from the industry. Russian energy firm Lukoil received parliamentary approval for two deals, while ExxonMobil signed an MoU with Egyptian Natural Gas Holding Company (EGAS) in April 2025.

EGAS plans to drill four exploratory wells in the H2 of FY 2024/2025, and 17 exploratory and evaluation wells in the Delta and Mediterranean Sea.