CAIRO - 13 May 2026: Egypt has signed a memorandum of understanding between the petroleum sector and France’s TotalEnergies to cooperate on natural gas exploration activities across a wide area in the West Mediterranean, in a step aimed at boosting upstream investment and supporting future discoveries.
The signing ceremony was witnessed by Prime Minister Mostafa Madbouly, along with Minister of Petroleum and Mineral Resources Karim Badawi, senior executives from TotalEnergies, and officials from the Egyptian Natural Gas Holding Company (EGAS), including Managing Director Saeed Salem.
The MoU was signed by EGAS CEO Sayed Salem and TotalEnergies Egypt and Cyprus General Manager Pascal Breant, in the presence of senior exploration officials from the French company covering the Middle East, North Africa, and the Eastern Mediterranean.
Prime Minister Madbouly reaffirmed the government’s commitment to supporting investment in oil and gas exploration, highlighting ongoing incentives and facilitation measures aimed at attracting international partners. He said Egypt’s engagement with global energy companies reflects strong confidence in the country’s investment climate and reform agenda.
Minister Karim Badawi said the agreement provides a framework for technical cooperation, including early-stage exploration studies and subsurface evaluations designed to reduce investment risk and pave the way for future exploration activities in the West Mediterranean region.
He added that the deal follows extensive discussions with TotalEnergies leadership and reflects renewed interest in expanding the company’s exploration footprint in Egypt, supported by recent reforms and improved investment conditions in the sector.
Badawi noted that the Mediterranean remains a top priority for exploration due to its promising potential, alongside Egypt’s strong infrastructure base and accumulated expertise, which continue to support its position as a regional energy hub.
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