Zohr subject at present contributes greater than 23% of Egypt’s whole fuel manufacturing, stated Karim Badawi, Minister of Petroleum and Mineral Assets, including that the Mediterranean area would witness stability in manufacturing and additional growth and exploration plans.
Badawi revealed throughout an interview on DMC TV Channel that Eni, the operator of Zohr, will improve its funding in Egypt by $8 billion over the approaching 5 years, together with initiatives within the Zohr, Dennis, Nour, and Narges fields.
Furthermore, he famous that between October 25 and December 26, greater than $1.2 billion in international investments will probably be directed to over 100 exploration wells, with about 14 exploration wells anticipated to be within the Mediterranean area.
“We would like the companions to extend their investments within the native manufacturing and to extend their investments within the discovery processes to have the ability to add to reserves and manufacturing,” the minister stated throughout the interview.
Zohr, the biggest pure fuel subject in Egypt and the Mediterranean, was found in 2015 and reached peak manufacturing of two.7 billion cubic toes per day (bcf/d) in 2019 earlier than output declined in 2021. The sphere is operated by Eni alongside companions Rosneft, bp, and Mubadala Petroleum.
Badawi defined that oil and fuel manufacturing confronted a decline as worldwide firms diminished operations in Egypt because of delayed arrears. He defined that World financial pressures, forex fluctuations, and elevated import payments strained Egypt’s capacity to make well timed funds to its international companions, who scaled again funding and drilling applications, inflicting disruption of power provide and contributing to final 12 months’s energy cuts.
To counter this decline, the ministry prioritised restoring investor confidence and introducing funding incentives. “We labored with our companions to make sure well timed funds, enhance contract economics, and encourage reinvestment in key areas just like the Western Desert and the Mediterranean,” Badawi said.
In 2025, Egypt would pay almost $1 billion in dues, with $500 million disbursed in September and one other $620 million scheduled for later within the 12 months. The minister added that traders regained belief and the speed of manufacturing started to extend in mid-2025 after months of joint work with worldwide firms.
