Prime Minister Moustafa Madbouly witnessed the inking of a memorandum of understanding (MoU) on Wednesday, May 13, 2026, between the Egyptian Petroleum Sector and French energy company Total Energies to collaborate on natural gas exploration activities covering a large area in the Western Mediterranean.
The signing ceremony took place at the government headquarters in the New Capital. The ceremony was attended by, Minister of Petroleum and Mineral Resources Karim Badawi, Exploration Director at Tota lEnergies for the Middle East and North Africa Francois Cortix and Exploration Director for the Eastern Mediterranean region Jeremy Soul.
Madbouly asserted the government’s full support for efforts to attract further investment in exploration and research by providing facilities and incentives for international partners, contributing to the discovery of new reserves and the development of existing fields.
He highlighted that discussions with global petroleum companies during the Egypt International Energy Conference and Exhibition (EGYPS) conveyed positive messages about Egypt’s seriousness in creating an attractive investment environment in the petroleum and gas sector, encouraging partners to expand their investments.
Badawi explained that the MoU sets a framework for technical cooperation between the two sides, including preliminary exploratory studies of natural gas and technical assessments of the seabed. This paves the way for practical steps to conduct exploration activities in the region while minimizing investment risks.
Badawi welcomed Total Energies’ renewed involvement in natural gas exploration in Egypt, noting that partnerships with major international companies are a key outcome of the ministry’s efforts to create an attractive investment climate through diverse incentives, regulatory frameworks, and prompt settlement of partners’ dues.
These measures have restored global confidence, driving companies to expand exploration, develop fields, and drill new wells to increase domestic production and meet local demand. MENA