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Egypt's Ministry of Petroleum published EGAS's annual performance review on 16 September 2026, reporting 28 new wells connected through nine development projects during FY2025/26. The projects represented investment of USD 1.12 billion. The figures concern the completed reporting year and should not be described as wells all connected during September or as spending on one individual drilling location.
The review also outlined a program of 16 exploration wells for the current financial year: seven offshore and nine onshore. The targets were associated with prospective gas potential of six trillion cubic feet. Prospective potential is not a proved discovery or recoverable reserve estimate confirmed by those future wells. The planned count likewise should remain separate from the 28 connections reported for the preceding year.
EGAS reported nine discoveries during the reviewed period, comprising eight gas discoveries and one oil discovery. The source also referred to drilling at the western Mediterranean Velox prospect, with a stated cost of USD 195 million and evidence of a hydrocarbon system. Evidence of such a system does not by itself establish a commercially viable discovery. Evaluation and future operator decisions are distinct from that technical observation.
For well-industry analysis, the review provides a useful division between completed development work and exploration commitments. It does not supply a complete public well register, precise coordinates for every target or individual production profiles. Future drilling results and connection updates will be needed to evaluate the next program. Preserving the reporting periods and resource classifications avoids treating a prospective exploration target as gas already found, while keeping actual completed connections visible as a separate delivery measure.