JACKPOT for THIS cash-strapped Muslim country as it discovers buried treasure worth Rs…; not Pakistan, Iran, Iraq, the name is…
The discovery, located in the Lower Bahariya reservoir, is estimated to add approximately 15 billion cubic feet (bcf) of gas to Egypt gas reserves.
Egypt gas reserves: In a major boost for cash-strapped Egypt, the country has discovered massive reserves of natural gas estimated to be worth hundreds of billions of US dollars.
How much reserves were found?
According to Egypt’s Ministry of Petroleum and Mineral Resources (MoMPR), natural gas reserves have been unearthed in the Western Desert by the Badr Eldin Petroleum Company (BAPETCO) through the BED 15-31 well in the Badr-15 field. The discovery, located in the Lower Bahariya reservoir, is estimated to add approximately 15 billion cubic feet (bcf) of gas to Egypt gas reserves.
The ministry said a new gas well has already been commissioned, and will have an initial production rate of 16 million cubic feet (mcf) of gas and 750 barrels of condensate per day.
Technical re-evaluation of the reservoir is currently underway to determine suitable locations for future drilling, increase production, and optimize the country’s natural gas resources, the ministry said, adding the announcement is in line with its comprehensive strategy to attract investment, increase exploration activities, and strengthen Egypt’s position as a regional hub for natural gas production and export.
Why new gas reserves will boost Egypt’s economy?
Notably, the discovery of natural gas reserves comes as a major relief for Egypt, which is battling a crippling economic crisis worsened by energy dependency. The discovery is expected to aid Egypt’s economic recovery by bringing in foreign investment and boosting forex reserves, and will also reduce the country’s energy import bill as domestic production increases.
According to reports in the Arab media, several major discoveries were made in the Western Desert in 2025.
In late August, Agiba Petroleum Company said its “North Deep Lotus-1” well had achieved initial production of approximately 1,835 barrels of crude oil and 7 million cubic feet of gas per day and is estimated to yield approximately 5 million barrels of oil equivalent (BOE) of reserves.
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