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flag Egypt launches $5.7B plan to drill 480 new oil/gas wells by 2030 to boost energy security and exports.

flag 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. flag The initiative aims to boost upstream production, enhance energy security, and strengthen Egypt’s position as a regional energy hub. flag It follows 21 new exploration agreements and 300 additional wells added in 2025. flag The country is also evaluating a new LNG terminal in Port Said to support growing energy demand and expand regional trade. flag These efforts align with a national strategy to increase petrochemical exports to $4.2 billion by 2030.

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