Egyptian Petroleum Minister Karem Badawi met with Kevin McLochlan, Vice President of global exploration company Chevron, on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2026). The meeting focused on the company's activities in Egypt and its plans to expand its exploration and search for natural gas in the eastern Mediterranean region.
The discussions included the positive results of drilling the "Nargis 2" well in the Mediterranean Sea, which confirmed the extension of gas-bearing layers previously discovered in the "Nargis 1" well and identified an additional gas-bearing layer. This supports the project's prospects and will help determine the resource's size and development opportunities.
Chevron is currently investing in six offshore areas in Egypt, including Nargis, North Dabaa, Lotus, Northwest Atoll, North Simian, and North Cleopatra, in partnership with Shell as the operator. The company is committed to its activities in Egypt, where it sees promising investment opportunities and a developed natural gas infrastructure.
Badawi and McLochlan also discussed the development of the Aphrodite gas field in Cyprus and the progress made in completing the necessary agreements and arrangements to connect the field's production to Egypt's infrastructure. This will enable the investment decision and project implementation, utilizing Egypt's facilities to receive, process, and export natural gas.
Minister Badawi emphasized the importance of partnership with Chevron and the sector's commitment to building on positive results in exploration activities, accelerating evaluation of discoveries, and identifying development opportunities to increase domestic natural gas production and maximize the use of petroleum resources.
Chevron's Vice President highlighted the significance of Egypt in the company's eastern Mediterranean portfolio, citing promising investment opportunities and a developed natural gas infrastructure. He expressed the company's desire to enhance its partnership with the Egyptian Petroleum sector and expand its exploration activities in the coming phase.
The meeting demonstrated Egypt's commitment to providing a stable, clear, and transparent investment environment, fulfilling obligations to investment partners, and promoting mutual trust. The country aims to provide incentives and investment mechanisms that encourage global companies to increase investments and intensify exploration and production activities.
Key points
- Egypt's Petroleum Minister discussed the Aphrodite gas project with Chevron's Vice President.
- The project aims to connect the Aphrodite gas field in Cyprus to Egypt's infrastructure.
- Chevron is investing in six offshore areas in Egypt, including Nargis, North Dabaa, and Lotus.
