TotalEnergies and the Egyptian Natural Gas Holding Company (EGAS) have signed a memorandum of understanding (MoU) covering exploration activities off the north-western coast of Egypt.
The agreement outlines a framework for collaboration in preliminary exploration efforts and subsurface evaluation.
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Witnessed by Egypt’s Prime Minister, Mostafa Madbouly, the agreement aims to pave the way for new natural gas discoveries in the region. The MoU establishes a framework for technical cooperation and assessment, supporting Egypt’s efforts to attract international investment in the country’s upstream sector.
TotalEnergies exploration senior vice-president Nicola Mavilla said: “We are pleased to launch this cooperation with EGAS, which reflects our shared ambition to further strengthen our partnership with the Arab Republic of Egypt.
“This agreement will support the assessment of Egypt’s deep offshore exploration potential.”
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, stressed that such partnerships help advance the country’s goal of expanding domestic production and leveraging its position as a regional energy hub.
He welcomed TotalEnergies’ renewed interest in Egypt, highlighting that recent incentives, flexible regulations and the resolution of outstanding payments have helped restore international investor confidence.
According to the minister, these efforts have encouraged companies to expand exploration, field development and drilling to boost domestic production and meet local demand.
Badawi also noted that Egypt’s petroleum sector continues to offer attractive investment opportunities, particularly in the Mediterranean region, which remains a priority due to its untapped potential and Egypt’s strong infrastructure and expertise as a regional energy hub.
TotalEnergies has operated in Egypt since 1998, building a broad footprint across fuel retailing, lubricants, liquefied natural gas, offshore exploration and renewable energy initiatives. The company is now strengthening its involvement in Mediterranean natural gas exploration, while continuing to maintain a significant downstream presence through a nationwide network of more than 240 service stations.
TotalEnergies, together with QatarEnergy and ConocoPhillips, recently signed an MoU with the Syrian Petroleum Company to explore Block 3, offshore Syria in the Mediterranean Sea. The agreement provides for the partners to carry out a technical review of Block 3.
Block 3 lies in the Levantine Basin off the Syrian city of Latakia, in water depths ranging from 100m to 1,700m.
