Egypt plans to carry out an ocean bottom node (OBN) seismic survey project in the Eastern Mediterranean, covering an area of 95,000 square kilometers using the latest global technologies in seismic surveying and exploration, according to Karim Badawi, the Minister of Petroleum and Mineral Resources.
The project aims to utilize gas resources in the Eastern Mediterranean, while boosting investment opportunities in gas exploration and production in Egypt, said Badawi during the GASTECH Exhibition and Conference in Milan, Italy.
The Minister pointed out that accurate data provided via the project will reduce risks, enabling investment opportunities for international companies to expand operations in Egypt. As a result, the project will increase both exploration and production drilling activities, and ultimately support higher domestic production rates–a top priority in the Ministry’s strategy.
The project will be implemented in three phases over seven years. The first phase will be rolled out in 2026, covering 18,000 square kilometers and investments worth $117 million. It has been awarded to the global energy technology company SLB– geophysical services company Viridien consortium, which won the bid launched by the Egyptian Natural Gas Holding Company (EGAS)
The GASTECH Conference runs from September 9 to 12, 2025, bringing together key energy decision-makers, including ministers from the US, Italy, Turkey, Iraq, and Cyprus, along with senior figures from the European Union, the International Energy Agency (IEA), and CEOs of the world’s top energy companies. The event also hosts around 50,000 participants from more than 150 countries, 1,000 exhibitors, and 1,000 expert speakers, making it a global platform for supporting the future of the natural gas industry.
Minister Badawi will participate as a keynote speaker in a ministerial panel session and will also hold a series of bilateral meetings with CEOs of major global companies.