Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, has announced the launch of a landmark Ocean Bottom Node (OBN) seismic survey project in the Eastern Mediterranean, covering up to 95,000 square kilometres and deploying the latest global exploration technologies. Badawi said the project is designed to maximise the country's gas potential and strengthen Egypt's position as a regional hub for energy investment. By providing high-resolution subsurface data, the survey will significantly reduce exploration risks and create more attractive opportunities for international companies to expand operations in Egypt, he noted. The minister stressed that the initiative will support exploratory and productive drilling activities, ultimately boosting domestic gas production—one of the top priorities in the ministry's strategy. The announcement was made during Badawi's participation in the opening of the GASTECH Conference and Exhibition in Milan, Italy, considered the largest global platform for the natural gas industry. The event also focuses on hydrogen energy, climate change mitigation, and the application of artificial intelligence in the energy sector. The Egyptian Natural Gas Holding Company (EGAS) awarded the project to a consortium led by Schlumberger and Veridien, which won the international bid. The survey will be implemented in three phases over seven years, with the first phase scheduled to begin in 2026. This phase will cover 18,000 square kilometres and involve investments worth $117m. Running from 9–12 September 2025, the GASTECH Conference is hosting around 50,000 participants from over 150 countries, including 1,000 exhibitors and 1,000 expert speakers. Attendees include ministers from the United States, Italy, Turkey, Iraq, and Cyprus, alongside senior representatives of the European Union, the International Energy Agency, and CEOs of major global energy firms.
