Egypt has taken a significant step toward strengthening its energy sector, signing four new oil and gas exploration agreements worth a total of $343 million with major international companies. Among the most prominent signings was Dalia El-Gabry, Chairperson of Shell Egypt, who led the company’s commitment to a $120 million offshore exploration project in the Mediterranean.
The agreement, one of four signed at a ceremony attended by Petroleum and Mineral Resources Minister Karim Badawi, grants Shell exploration rights in the offshore Mernieth block. The deal includes the drilling of three wells, underscoring Shell’s long-term investment strategy in Egypt’s upstream sector and reaffirming its role as a key player in the country’s energy landscape.
Dalia El-Gabry’s leadership in securing this agreement reflects Shell Egypt’s continued confidence in the potential of the Mediterranean basin. Her signature on the deal, made on behalf of Shell, signals a strategic expansion of operations and deepening collaboration with Egypt’s petroleum authorities.
The agreements, signed by Mahmoud Abdel Hamid, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS), involve exploration across four concession areas in the Mediterranean and Nile Delta, and the drilling of 10 new wells. The deals form part of Egypt’s broader energy strategy to accelerate exploration activity and increase domestic production.
Other signatories included Eni, committing $100 million to the East Port Said offshore concession, represented by Francesco Gaspari, General Manager of Eni Egypt, and partners BP and QatarEnergy, represented by Wael Shahin and Ali Abdel Manea respectively.
The new agreements represent a vote of confidence in Egypt’s regulatory framework, geological potential, and commitment to fostering partnerships with global energy leaders. Dalia El-Gabry’s involvement in the landmark Shell deal cements her standing as one of the most influential figures in Egypt’s energy sector and highlights the growing role of women in executive leadership positions across the region’s oil and gas industry.
