Egypt has brought 591 new wells into production and recorded 113 discoveries between July 2024 and June 2026, Petroleum and Mineral Resources Minister Karim Badawi announced on Tuesday, 20 October, at the opening of the Mediterranean Offshore Conference 2026 in Alexandria.
According to the ministry, these operations are meant to support domestic extraction and offset the natural decline of existing fields. They form part of a revival of exploration and development drilling, which Badawi presented as a means of boosting local supply and attracting more investment.
The tally shows the intensity of upstream activity, but it does not yet make it possible to measure its net effect on the country's supply. The ministry did not specify the additional output from the 591 wells, nor the reserves or commercial status of the 113 discoveries.
Badawi also recalled that Egypt had paid 6.1 billion dollars in arrears owed to foreign partners in June 2026. This payment, already announced in June, is presented by the authorities as part of efforts to restore operator confidence alongside the acceleration of drilling.
In Alexandria, four refineries account for around 45% of national refining capacity, and five petrochemical complexes are located there, according to the ministry. The MOC 2026 conference brings together public officials, companies and service providers from the Mediterranean energy industry.