Egypt Upstream Gateway Upgrade: $44M Investment with SLB
Egypt Secures $44 Million Investment to Enhance Oil & Gas Exploration Capabilities
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Gateway Platform Drives Investment, Digital Transformation
The Egyptian General Petroleum Corporation (EGPC) and Schlumberger (SLB) Egypt have renewed their partnership wiht a $44 million investment to upgrade the Gateway (EUG) platform, according to a recent declaration. Since its 2021 launch,the EUG has attracted approximately $1.2 billion in new investments for oil and gas exploration and production within Egypt.
The EUG platform currently supports investment in 52 exploration blocks and has facilitated the drilling of nearly 130 wells, hosting around 50 international and local companies. It provides integrated digital services, including access to geological data, virtual data rooms, and specialized studies, designed to streamline investment procedures and increase transparency.
Eastern Mediterranean Seismic survey to Unlock Gas Potential
At the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025), Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, witnessed the signing of an agreement for a large-scale seismic survey project in the Eastern Mediterranean region. The project, spanning 95,000 square kilometers, will utilize Ocean Bottom Node (OBN) technology.
The Egyptian Natural Gas Holding Company (EGAS) awarded the tender to a consortium comprising Schlumberger Egypt and Viridien. The agreement was signed on November 6, 2023, by Mahmoud Abdel Hamid (Chairperson of EGAS), Sherif Bayoumi (Country Manager of Schlumberger Egypt), and Erling Frantzen (Vice President of Seismic Projects at Viridien). Egypt Oil & Gas reported on the signing.
Minister El Molla emphasized that the project demonstrates Egypt’s commitment to maximizing its gas resources in the Eastern Mediterranean and attracting further investment in upstream exploration. The high-resolution seismic data generated is expected to reduce exploration uncertainty and encourage new drilling campaigns to boost domestic gas production.
Project Timeline and Implementation
The seismic survey will be implemented in three phases. The first phase, scheduled to begin in 2026, will cover an initial area of 18,000 square kilometers. The remaining phases and their timelines have not yet been publicly announced.