Energean Identifies Massive Gas Reserves Beneath Egyptian Platforms
UK-based Energean has revealed that approximately 3 trillion cubic feet of estimated additional gas reserves lie beneath its current Egyptian platforms, according to CEO Mathios Rigas. The discovery represents significant untapped potential for the company’s Egyptian operations.
Energean Egypt maintains a comprehensive production, development, and exploration portfolio, operating and owning 100% of the Abu Qir concession, North East Almreya and North Idku concessions. The company also holds 50% of the East Bir El Nus onshore concession and maintains a 30% interest in the North East Hap’y offshore concession.
The company reported revenues of $804 million in the first half of 2025, compared to $867 million in the same period the previous year, with adjusted EBITDAX of $505 million. As an international hydrocarbon exploration and production company focused on natural gas, Energean’s Egyptian operations represent a significant component of its global portfolio.
Source: egyptoil-gas.com
