Drilling of the offshore Velox-1X exploratory nicely within the North Cleopatra concession within the Western Mediterranean has revealed promising oil indicators, confirming a functioning petroleum system and crude oil within the space. These outcomes increase the probabilities of the primary crude oil discovery within the Western Mediterranean, pending completion of analysis and technical research.
Drilling started on Could 23, 2026, and efficiently reached deliberate geological targets at a remaining depth of about 6,500 meters. Shell operates the nicely in cooperation with the Egyptian Pure Gasoline Holding Firm (EGAS), Chevron, a U.S. oil firm, and Egypt’s Tharwa Petroleum. QatarEnergy is finishing procedures to hitch the partnership. The operation has yielded encouraging geological outcomes, laying the groundwork for a brand new part of exploration within the space. Velox-1X is the fourth nicely in Shell’s 2026 drilling program
The outcomes are actually being evaluated after accumulating a crude oil pattern and analyzing technical knowledge to find out subsequent steps, together with attainable further exploratory wells. Constructive indicators spotlight the untapped potential of the Western Mediterranean and lift new hopes for oil and gasoline discoveries.
The nicely is positioned about 90 kilometers off the Egyptian coast. Drilling, performed with the Stena IceMAX drillship, completed 10 days forward of schedule and below funds, reflecting the effectivity of the operation.
On July 11, 2026, Egypt’s Minister of Petroleum and Mineral Sources, Karim Badawi, visited Velox-1X. The nicely is the deepest offshore nicely within the Mediterranean and a key frontier exploration mission anticipated to supply precious geological knowledge, entice new funding, and help Egypt’s future hydrocarbon manufacturing
