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Egypt launches $5.7B plan to drill 480 new oil/gas wells by 2030 to boost energy security and exports.
Egypt has launched a $5.7 billion, five-year plan to drill 480 new oil and gas wells across the Western Desert, Mediterranean Sea, Gulf of Suez, and Nile Delta, with the first phase beginning in 2026.
The initiative aims to boost upstream production, enhance energy security, and strengthen Egypt’s position as a regional energy hub.
It follows 21 new exploration agreements and 300 additional wells added in 2025.
The country is also evaluating a new LNG terminal in Port Said to support growing energy demand and expand regional trade.
These efforts align with a national strategy to increase petrochemical exports to $4.2 billion by 2030.
Egipto lanza un plan de $ 5.7B para perforar 480 nuevos pozos de petróleo y gas para 2030 para impulsar la seguridad energética y las exportaciones.