RIYADH: Egypt is seeking to expand oil and gas drilling with ADNOC Drilling as part of a broader push to raise domestic production and attract investment into exploration and field development.
Egyptian Petroleum and Mineral Resources Minister Karim Badawi met ADNOC Drilling CEO Abdulla Ateya Al Messabi to discuss potential strategic partnerships and the UAE company’s participation in an expanded onshore and offshore well-drilling program, according to the UAE’s state-run WAM news agency.
The talks come as Egypt’s petroleum sector targets a 20 percent increase in exploration and production activities in 2026 as part of its five-year plan, according to the Ministry of Petroleum and Mineral Resources. The plan also calls for accelerating well drilling and introducing new contractual frameworks to attract upstream investment.
The ministry said recently that 149 exploratory wells drilled over the past two fiscal years resulted in 112 discoveries, including 88 crude oil and 24 natural gas finds. It is also preparing 13 new exploration and production agreements involving more than $1 billion in investment and commitments to drill 120 wells.
“The meeting comes as part of the Egyptian Ministry of Petroleum and Mineral Resources’ strategy to expand its partnerships with international and regional companies specializing in drilling and petroleum services, and to provide the necessary capabilities, equipment, and technologies to implement an increased drilling program in the coming years,” the WAM report stated.
