Arab News: Egypt is seeking to expand oil and gas drilling with ADNOC Drilling as part of a broader push to raise domestic production and attract investment into exploration and field development.
Egyptian Petroleum and Mineral Resources Minister Karim Badawi met ADNOC Drilling CEO Abdulla Ateya Al Messabi to discuss potential strategic partnerships and the UAE company’s participation in an expanded onshore and offshore well-drilling program, according to the UAE’s state-run WAM news agency.
The talks come as Egypt’s petroleum sector targets a 20 percent increase in exploration and production activities in 2026 as part of its five-year plan, according to the Ministry of Petroleum and Mineral Resources. The plan also calls for accelerating well drilling and introducing new contractual frameworks to attract upstream investment.
The ministry said recently that 149 exploratory wells drilled over the past two fiscal years resulted in 112 discoveries, including 88 crude oil and 24 natural gas finds. It is also preparing 13 new exploration and production agreements involving more than $1 billion in investment and commitments to drill 120 wells.
“The meeting comes as part of the Egyptian Ministry of Petroleum and Mineral Resources’ strategy to expand its partnerships with international and regional companies specializing in drilling and petroleum services, and to provide the necessary capabilities, equipment, and technologies to implement an increased drilling program in the coming years,” the WAM report stated.
It added: “This will contribute to accelerating the development of petroleum resources and increasing domestic production.”
The Egyptian Minister of Petroleum emphasized that increasing drilling operations is a key pillar of the ministry’s five-year plan to maximize domestic crude oil and natural gas production. This will be achieved by intensifying exploration and development activities, accelerating the development of discoveries, increasing well drilling rates and leveraging the latest technologies and technical solutions.
Badawi noted that the Egyptian petroleum sector has promising opportunities and an ambitious drilling and development program, opening the door to new partnerships with international and Arab companies specializing in drilling services, particularly those with advanced technological capabilities and extensive experience in executing large-scale drilling programs.
The minister praised ADNOC Drilling’s technical capabilities and expertise in well drilling operations, as well as its use of technology and innovation to enhance the efficiency of drilling and production processes. He emphasized the importance of leveraging this expertise to support the Egyptian petroleum sector’s plans.
Badawi said Egypt’s improved investment climate and efforts to strengthen investor confidence provide a solid foundation for a new phase of investment and increased exploration and production.
For ADNOC Drilling, Egypt offers an opportunity to expand beyond its domestic market as the company pursues regional growth. Its strategy includes fleet expansion, oilfield services and technology-led solutions, while it is targeting about 70 integrated drilling-services rigs by the end of 2026.
Al Messabi highlighted ADNOC Drilling’s interest in working with Egypt’s drilling sector, including the Egyptian Drilling Co., citing the company’s experience in oil and gas well operations in Egypt and abroad.
He commended the Egyptian Ministry of Petroleum and Mineral Resources’ vision to increase well drilling operations over the next five years, emphasizing the company’s commitment to participating in the program and using its expertise and technical capabilities to support production growth.
The CEO said specialized technical meetings will be held in the coming period to discuss cooperation opportunities and determine areas of participation in implementing the targeted drilling program.
https://www.arabnews.com/node/2655695/business-economy
