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The most important of which is 38 trillion cubic feet of gas... a petroleum breakthrough to increase production and reserves

The petroleum sector has succeeded in making great progress to advance investment during the seven years in the search for oil and gas in Egypt, in order to develop petroleum resources and make new discoveries as follows:


1- Inviting 9 international bids to search for oil and gas.


2 - Assigning 31 oil and gas exploration areas to international companies.

3 - Attracting the two largest companies in this sector globally to work in Egypt for the first time in ExxonMobil and Chevron.


4- Signing 98 new petroleum agreements with a minimum investment of about 16.15 billion dollars.


5- Signing 94 development contracts for new petroleum discoveries.


6 - 351 new petroleum discoveries were made.


7- Adding petroleum reserves of about 400 million barrels of oil and condensates, and 38 trillion cubic feet of natural gas.