Egypt’s Ministry of Petroleum and Mineral Resources is finalising procedures to bring a new natural gas well, North El-Basant-1, into production with an expected output of around 10mn cubic feet per day, Economy Plus reported on December 9, citing an official statement.

The well, drilled by Wasco (Wasatani Petroleum) in the Nile Delta, was classified as a successful exploratory well under the investment programme of UAE-based Dana Gas (ADX:DANA), which operates in partnership with the Egyptian Natural Gas Holding Company (EGAS) across its Delta concessions. Initial testing indicates 15bn–25bn cubic feet of preliminary reserves, subject to revision once full appraisal work is completed.

The company’s Nile Delta portfolio remains central to Egypt’s short-cycle gas strategy because the basin offers low development costs and fast tie-ins to existing infrastructure. Dana Gas, one of the country’s largest private-sector gas producers, has operated in Egypt since 2007 and has emphasised the importance of low-risk, onshore gas in underpinning its regional cash flow.

The ongoing Dana Gas–EGAS programme includes drilling 11 new wells aimed at uncovering additional gas reservoirs and stabilising medium-term supply in the Nile Delta, a core component of Egypt’s domestic gas balance. Egypt has faced intermittent supply constraints since 2023, partly due to natural declines at mature fields and seasonal power-sector demand.

EGAS recorded 29 new natural gas discoveries in FY2024/25 across the Mediterranean, Western Desert and Gulf of Suez, contributing roughly 1.85 trillion cubic feet to national reserves. The ministry said the pace of discovery reflects a continued shift toward modular, incremental field development rather than reliance on a small number of mega-projects.

In a separate earlier statement, Petroleum Minister Karim Badawi said preparations are underway to launch a new global bid round for oil and gas exploration in four Red Sea blocks, to be offered through Egypt’s Exploration and Production Gateway (EUG).

The Red Sea remains one of Egypt’s least-explored frontier basins; the new offering will be the first since 2019 and will rely on updated multi-client seismic data.