Egypt’s EGAS plans new gas bid round and 17 exploration wells in FY 2026/27

Egyptian Natural Gas Holding Company (EGX: EGAS) plans to launch a new international bid round for gas exploration later in 2026 in several blocks in the western Mediterranean, while preparing to drill 17 exploratory wells during FY 2026/27, Al Borsa reported on March 13. 

EGAS Executive Managing Director Sayed Selim said the company also intends to begin the first phase of a seismic survey project in the eastern Mediterranean in H2 2026. His remarks came during the company’s general assembly meeting to approve the FY 2026/27 budget.

Selim said the company is following the recent exploration wells, including West Denis-1, Sirius and Janat-1, while preparations are underway to drill four additional wells in the H2 of FY 2025/26.

EGAS also aims to develop existing fields by implementing six new projects and completing three ongoing developments, with plans to add 51 wells to the production map during FY 2026/27. During H2 of the current fiscal year, EGAS is working on four development projects while completing another, with 25 wells expected to be added.

EGAS is doubling its efforts to secure natural gas supplies for the domestic market, particularly for the electricity and industrial sectors, alongside expanding the national gas grid and connecting homes. Around 385,000 residential units were connected to natural gas during H1 of the current fiscal year, while the plan targets 800,000 connections in FY 2026/27.