Egypt Oil Production: Minister Outlines Plan to Double Output in 5 Years

Cairo, Egypt – Egypt is embarking on an ambitious five-year plan to significantly increase its crude oil production, aiming to double current output through a combination of technological upgrades, revised contractual frameworks, and renewed investment from major international oil companies. The initiative, unveiled this week by Minister of Petroleum and Mineral Resources Karim Badawi, signals a decisive shift in Egypt’s energy strategy following a period of stabilization after previous declines.

Badawi held high-level talks with executives from SLB, Baker Hughes, Weatherford, Halliburton, National Energy Services Reunited Corporation (NESR), and EXPRO to establish a new technical framework for achieving this growth. The discussions centered on creating a more flexible and attractive environment for foreign investment, particularly in research and development tailored to the unique geological challenges of Egypt’s petroleum sector.

According to officials, the plan builds on recent incentives designed to bolster production levels and marks a transition from addressing outstanding financial obligations to international partners to a more proactive phase focused on sustainable growth. Badawi confirmed that previously owed financial dues have been settled, paving the way for enhanced cooperation and long-term investment.

The core of the strategy involves an expanded drilling program, with plans to drill around 480 new exploration wells over the next five years, representing a total investment exceeding $5.7 billion. In 2026 alone, 101 wells are slated for drilling, distributed across key production regions including the Western Desert, the Gulf of Suez, the Mediterranean Sea, and the Nile Delta. The Western Desert is expected to be the primary focus, with 67 of the planned wells located there.

A key component of the plan is the deployment of advanced drilling technologies, with a particular emphasis on horizontal drilling techniques. This approach is intended to revitalize mature oil fields and accelerate the development of new discoveries. The ministry is also directing the development of updated contractual and technical mechanisms between the Egyptian General Petroleum Corporation (EGPC) and international partners, aiming to streamline operations and improve efficiency.

The move comes as Egypt seeks to reinforce its position as a regional energy hub and strengthen its energy independence. Recent agreements with international energy companies demonstrate growing confidence in Egypt’s potential. Italy’s Eni has announced plans to invest $8 billion, while BP intends to invest around $5 billion in new exploration projects. Four new agreements, worth more than $340 million, have also been signed with Eni, Shell, and Arkeus Energy to expand upstream activities.

The initiative also aims to reverse a previous decline in gas production, with officials noting the first output increase in August 2025 after several months of contraction. This positive trend is attributed to the incentive measures introduced over the past year, which have led to the signing of 21 new agreements with international partners, representing $1.1 billion in investments, and the addition of 300 new wells to the national production map.

Representatives from the international oil companies involved have expressed their commitment to supporting Egypt’s ambitious five-year plan. They pledged to provide integrated technological solutions and operational expertise to ensure a steady increase in production rates across both onshore and offshore assets. The companies also reaffirmed their support for the Ministry of Petroleum and Mineral Resources’ efforts to expand production initiatives.

The Ministry of Petroleum and Mineral Resources has set a deadline of the end of February for finalizing the executive framework for boosting output through advanced technologies and diversified drilling methods. This framework will include standardized contract models and clear guidelines for executing technical operations in oil fields.

Egypt’s strategic roadmap through 2030 aims to sustain growth in oil and gas production, in close cooperation with global energy firms. The success of this plan will be crucial for Egypt’s economic development and its role in the regional energy landscape. The focus on attracting foreign investment and deploying cutting-edge technologies underscores Egypt’s commitment to modernizing its energy sector and maximizing its resource potential.