in Short
Egypt : ExxonMobil signs MoU to explore offshore gas in Cairo and Masry concessions
On April 29, 2025, EGAS and ExxonMobil Egypt Upstream Ltd. signed a preliminary MoU to launch a new investment model in the Mediterranean’s Cairo and Masry offshore blocks. The deal is part of the Petroleum Ministry’s strategy to boost gas output by incentivizing exploration in high-risk areas. ExxonMobil has completed a 3D seismic survey over 11,000 km². Estimated investment: over $100 million.
