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Egypt Partners With SLB and Viridien for Offshore Mediterranean Gas Exploration Survey

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Egypt is starting a major offshore exploration effort to boost its domestic natural gas reserves and reverse declining production. Within two weeks, the country will launch a seismic survey covering approximately 18,000 square kilometers in the Eastern Mediterranean. The operation is being carried out by the Egyptian Natural Gas Holding Company in partnership with energy services firms SLB and Viridien.

The initial phase will deploy advanced ocean-bottom node seismic technology to gather high-resolution geological data on subsea formations. This initial effort forms part of a broader program designed to map up to 95,000 square kilometers of Egyptian waters. Officials hope the clearer geological insights will reduce exploration risks and attract greater foreign capital to energy projects.

Investors and market participants will be watching the progress of the survey operations over the coming weeks, along with any subsequent bidding rounds or investment commitments from international energy companies looking to tap potential gas fields in the region.

Key points

  • Egypt is starting an 18,000-square-kilometer offshore seismic survey in the Eastern Mediterranean within two weeks.
  • The project is led by the Egyptian Natural Gas Holding Company alongside SLB and Viridien.
  • The initial survey is part of a larger plan to map 95,000 square kilometers of Egyptian waters.
  • The program aims to offset falling gas output by attracting new international energy investments.

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Questions and answers

Why is Egypt starting a new offshore gas survey in the Mediterranean?

Egypt is launching the survey to map subsea geological structures, locate undiscovered natural gas reserves, and counteract declining domestic gas production.

Which companies are involved in Egypt's new gas exploration project?

The project is being conducted by the Egyptian Natural Gas Holding Company in partnership with a consortium formed by SLB and Viridien.

How large is Egypt's offshore gas exploration survey area?

The first phase covers 18,000 square kilometers, with the overall program planned to cover 95,000 square kilometers in Egyptian waters.