Egypt Launches $117 Million Mediterranean Seismic Survey Project
Egypt plans to conduct a comprehensive ocean bottom node seismic survey covering 95,000 square kilometers in the Eastern Mediterranean using advanced global technologies. Minister Karim Badawi announced the project aims to boost gas exploration investment opportunities while reducing risks for international companies expanding Egyptian operations.
The seven-year project will proceed in three phases, with the first phase covering 18,000 square kilometers and requiring $117 million investment beginning in 2026. The contract has been awarded to the SLB-Viridien consortium following a competitive bidding process by the Egyptian Natural Gas Holding Company.
Accurate data from the survey will enable expanded exploration and production drilling activities, supporting higher domestic production rates as a strategic ministry priority.
Source: egyptoil-gas.com
