Tuesday 14/April/2026 – 05:36 PM
Engineer Karim Badawy, Minister of Petroleum and Mineral Resources, met with a delegation from the French company Total Energies, to discuss investment opportunities in areas Water Deep in the western Mediterranean Sea in the Herodotus Deep Depression, this came within the framework of the efforts of the Ministry of Petroleum and Mineral Resources to attract new investments in research and exploration activities for natural gas.
France’s Total Energies is interested in searching for gas in the deep Herodotus depression in the western Mediterranean
During the meeting, the company expressed its interest in the promising opportunities in that region, in light of its great exploration potential that could contribute to increasing natural gas production, reviewing the possibility of implementing an intensive program of research and exploration work.
The Minister stressed that expanding exploration activities and offering more opportunities to international companies represents a fundamental pillar of the Ministry’s strategy. To raise gas production rates and achieve the goals of the five-year plan, noting that seismic survey projects in new areas have contributed to providing promising investment opportunities.
He added that the Ministry is adopting new incentive models for investment in gas and oil exploration activities in new regions, such as the Western Mediterranean, the Red Sea, and southern Western Sahara, in a way that increases their competitiveness and enhances the attraction of global investments to them.
At the conclusion of the meeting, it was agreed to sign a framework agreement for cooperation between the Egyptian Natural Gas Holding Company (EGAS) and Total Energies during the coming period.
The meeting was attended by Engineer Sayed Selim, Executive Managing Director of EGAS, Dr. Samir Raslan, Undersecretary of the Ministry of Petroleum and Mineral Resources for Agreements and Exploration, geologist Ibrahim Abdo, Deputy Executive Managing Director of Agreements and Exploration at EGAS, and Dr. Mahmoud Khattab, Assistant Vice President of EGAS for Agreements.
