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Egypt agrees deal with Eni, BP for oil and gas exploration in the Mediterranean

Published by Global Banking & Finance Review

Posted on July 31, 2025

1 min read

· Last updated: January 22, 2026

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Egypt agrees deal with Eni, BP for oil and gas exploration in the Mediterranean
oil and gas investment
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CAIRO (Reuters) -Egypt signed an agreement with oil giants Eni and BP to start exploration activities in the Mediterranean Sea, the petroleum ministry said on Thursday The agreement also includes

Egypt Signs Exploration Agreement with Eni and BP in Mediterranean

CAIRO (Reuters) -Egypt signed an agreement with oil giants Eni and BP to start exploration activities in the Mediterranean Sea, the petroleum ministry said on Thursday

The agreement also includes drilling in the coming months an exploration well for natural gas in the Lake Timsah area, which lies in a basin developed along a fault extending from the Mediterranean Sea to the Gulf of Suez through the Bitter Lakes region.

(Reporting by Nayera Abdallah in Dubai, Editing by Louise Heavens)

Key Takeaways

  • Egypt signed an exploration deal with Eni and BP.
  • The agreement focuses on the Mediterranean Sea.
  • Drilling will occur in the Lake Timsah area.
  • The exploration targets natural gas resources.
  • The deal involves major oil companies Eni and BP.

Frequently Asked Questions

What agreement did Egypt sign recently?
Egypt signed an agreement with oil giants Eni and BP to start exploration activities in the Mediterranean Sea.
What specific area will the drilling take place?
The agreement includes drilling an exploration well for natural gas in the Lake Timsah area.
When will the drilling activities commence?
The drilling activities are set to begin in the coming months.

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