Egypt is seeking billions of dollars in fresh investments to revive its declining oil and gas production, with plans to increase natural gas output to 6.6 billion cubic feet per day by 2027.

The North African country is pursuing an aggressive expansion strategy involving new drilling campaigns, exploration incentives and partnerships with international energy companies to boost production and strengthen its position as a regional energy hub.

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, disclosed the government’s plans during an October roundtable titled The Future of Energy in Egypt, which brought together regional energy officials and executives of international oil and gas companies.

The discussions focused on attracting investment, accelerating the development of discovered reserves and connecting new projects to existing infrastructure to reduce development costs and bring production online faster.

Egypt’s oil and gas output has declined in recent years, largely due to ageing offshore fields in the Mediterranean, including the giant Zohr gas field.

To reverse the trend, the government is prioritising exploration and development activities while leveraging its existing pipeline networks, gas processing facilities, reception terminals and liquefied natural gas infrastructure.

Badawi said the country had recorded 591 new wells and 113 discoveries between July 2024 and June 2026, adding that improved investment conditions had helped attract international energy partners.

The government has also addressed one of the industry’s major investment concerns by settling $6.1 billion in outstanding payments owed to foreign oil and gas companies.

Meanwhile, President Abdel Fattah Al-Sisi has outlined a five-year strategy to increase crude oil and condensate production, supported by new exploration activities, advanced technologies and improved contractual arrangements.

The plan also includes more than $4 billion in investments to upgrade six domestic refineries, increase the production of higher-value petroleum products and reduce the country’s dependence on imported fuels.

Italy’s energy giant Eni is among the companies expanding its operations in Egypt.

The company’s Chief Executive Officer, Claudio Descalzi, announced plans to drill 30 exploration wells and 200 development wells as part of its expansion programme.

Eni has invested approximately $8.5 billion in Egypt and produced about 242,000 barrels of oil equivalent per day in 2025 through its subsidiary, International Egyptian Oil Company.

The company plans to increase output across several locations, including the Mediterranean, Nile Delta, Sinai and Western Desert, while using existing infrastructure to accelerate the development of new discoveries.

One of its major prospects is the Temsah offshore concession in the Eastern Mediterranean, where it announced a gas and condensate discovery in April.

Preliminary estimates put the discovery at approximately two trillion cubic feet of natural gas and 130 million barrels of associated condensate. Its proximity to existing infrastructure, less than 10 kilometres away, could shorten the time required to commence production.

Eni indicated in August that first gas from the discovery could be achieved within two years.

The company is also expanding its gas processing capacity in Egypt’s Western Desert through the second phase of its Meleiha project.

The planned facility is expected to process up to 100 million standard cubic feet of gas daily, increasing supplies available to the domestic market.

With the settlement of outstanding debts and renewed commitments from international operators, Egypt is hoping to reverse years of declining production, strengthen domestic energy supplies and expand its influence in regional gas markets.