{"id":2840,"date":"2026-08-05T09:48:07","date_gmt":"2026-08-05T06:48:07","guid":{"rendered":"https:\/\/dailybusiness.info\/?p=2840"},"modified":"2026-08-06T02:43:27","modified_gmt":"2026-08-05T23:43:27","slug":"govt-has-five-new-gas-wells-planned-to-come-online-in-october-but-they-arent-enough-to-stop-the-costly-import-cycle","status":"publish","type":"post","link":"https:\/\/dailybusiness.info\/?p=2840","title":{"rendered":"Gov\u2019t has five new gas wells planned to come online in October, but they aren\u2019t enough to stop the costly import cycle"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div>\n<figure class=\"wp-block-audio mb-0\"><audio src=\"https:\/\/ent.news\/internal\/audio\/polly-719752-1785897814.a4ce8f92-1066-4127-997f-68d37751b6e2.mp3\" preload=\"metadata\" controls=\"controls\"><strong>Egypt is planning <span synonyms=\"to add|so as to add\" class=\"synonym\">so as to add<\/span> about 100 mmcf \/ d of <span synonyms=\"gas|fuel|gasoline\" class=\"synonym\">gasoline<\/span> in October from <span synonyms=\"five|5\" class=\"synonym\">5<\/span> new onshore and offshore wells<\/strong> at a <span synonyms=\"combined|mixed\" class=\"synonym\">mixed<\/span> <span synonyms=\"cost|value|price\" class=\"synonym\">price<\/span> of about USD 95 mn, <span synonyms=\"according to|based on|in accordance with|in line with|in response to|in keeping with\" class=\"synonym\">in line with<\/span> an <a href=\"https:\/\/asharqbusiness.com\/power\/142620\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B3%D8%AA%D9%87%D8%AF%D9%81-%D8%B1%D8%A8%D8%B7-100-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D9%82%D8%AF%D9%85-%D8%BA%D8%A7%D8%B2-%D9%8A%D9%88%D9%85%D9%8A%D8%A7-%D8%A8%D8%A7%D9%84%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%B9%D8%A8%D8%B1-5-%D8%A2%D8%A8%D8%A7%D8%B1\/\" target=\"_blank\">unnamed government official<\/a>. The <span synonyms=\"campaign|marketing campaign\" class=\"synonym\">marketing campaign<\/span> <span synonyms=\"relies|depends\" class=\"synonym\">depends<\/span> on onshore and deepwater <span synonyms=\"assets|belongings|property\" class=\"synonym\">property<\/span>: Eni\u2019s new <span synonyms=\"well|properly|nicely|effectively\" class=\"synonym\">effectively<\/span> <span synonyms=\"at the|on the\" class=\"synonym\">on the<\/span> Zohr <span synonyms=\"field|area|subject|discipline\" class=\"synonym\">area<\/span> carries <span synonyms=\"the biggest|the most important|the largest\" class=\"synonym\">the most important<\/span> share at 60 mmcf \/ d, <span synonyms=\"while|whereas\" class=\"synonym\">whereas<\/span> Apache is <span synonyms=\"adding|including\" class=\"synonym\">including<\/span> 20 mmcf \/ d from two Western Desert wells. Onshore <span synonyms=\"plays|performs\" class=\"synonym\">performs<\/span> from Harbour <span synonyms=\"Energy|Power|Vitality\" class=\"synonym\">Power<\/span> (12 mmcf \/ d) and Cheiron <span synonyms=\"Energy|Power|Vitality\" class=\"synonym\">Power<\/span> (8 mmcf \/ d) will <span synonyms=\"round|spherical\" class=\"synonym\">spherical<\/span> it out.<\/p>\n<p><strong>Barely <span synonyms=\"enough|sufficient\" class=\"synonym\">sufficient<\/span> <span synonyms=\"to stand|to face\" class=\"synonym\">to face<\/span> <span synonyms=\"still|nonetheless\" class=\"synonym\">nonetheless<\/span>:<\/strong> The <span synonyms=\"natural|pure\" class=\"synonym\">pure<\/span> decline <span synonyms=\"rate|price|fee|charge\" class=\"synonym\">charge<\/span> <span synonyms=\"across|throughout\" class=\"synonym\">throughout<\/span> the <span synonyms=\"country|nation\" class=\"synonym\">nation<\/span>\u2019s <span synonyms=\"existing|present|current\" class=\"synonym\">present<\/span> fields is roughly 120 mmcf \/ d <span synonyms=\"every|each\" class=\"synonym\">each<\/span> month. With <span synonyms=\"domestic|home\" class=\"synonym\">home<\/span> <span synonyms=\"production|manufacturing\" class=\"synonym\">manufacturing<\/span> already <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/23\/house-signs-off-on-fy-2026-27-budget-but-demands-macro-reality-check\/\" target=\"_blank\">slipping below 4 bcf \/ d<\/a> <span synonyms=\"against|towards|in opposition to\" class=\"synonym\">in opposition to<\/span> a baseline <span synonyms=\"domestic|home\" class=\"synonym\">home<\/span> demand of 6.2 bcf \/ d (which spikes to 7.5 bcf \/ d <span synonyms=\"during the|through the|in the course of the|throughout the\" class=\"synonym\">in the course of the<\/span> <span synonyms=\"summer|summer time|summer season\" class=\"synonym\">summer season<\/span> <span synonyms=\"heat|warmth\" class=\"synonym\">warmth<\/span>), the <span synonyms=\"country|nation\" class=\"synonym\">nation<\/span> <span synonyms=\"remains|stays\" class=\"synonym\">stays<\/span> locked <span synonyms=\"into a|right into a\" class=\"synonym\">right into a<\/span> <span synonyms=\"costly|pricey|expensive\" class=\"synonym\">expensive<\/span> import cycle.<\/p>\n<p><strong><span synonyms=\"We need|We'd like|We want\" class=\"synonym\">We want<\/span> <span synonyms=\"all the|all of the\" class=\"synonym\">all of the<\/span> <span synonyms=\"gas|fuel|gasoline\" class=\"synonym\">gasoline<\/span> <span synonyms=\"we can|we will|we are able to\" class=\"synonym\">we will<\/span> extract domestically <span synonyms=\"because|as a result of\" class=\"synonym\">as a result of<\/span> imports are proving <span synonyms=\"highly|extremely\" class=\"synonym\">extremely<\/span> <span synonyms=\"volatile|risky|unstable\" class=\"synonym\">unstable<\/span>:<\/strong> In July, Egypt was <span synonyms=\"the top|the highest\" class=\"synonym\">the highest<\/span> <span synonyms=\"destination|vacation spot\" class=\"synonym\">vacation spot<\/span> for US LNG cargoes, receiving a <span synonyms=\"record|document|report|file\" class=\"synonym\">file<\/span> 21 shipments as war-driven chokepoint disruptions <span synonyms=\"through|via|by way of|by means of|by\" class=\"synonym\">via<\/span> the Strait of Hormuz triggered <span synonyms=\"a global|a worldwide|a world\" class=\"synonym\">a world<\/span> scramble for <span synonyms=\"alternative|various|different\" class=\"synonym\">various<\/span> <span synonyms=\"supply|provide\" class=\"synonym\">provide<\/span>, <span synonyms=\"according to|based on|in accordance with|in line with|in response to|in keeping with\" class=\"synonym\">in line with<\/span> <a href=\"https:\/\/www.spglobal.com\/energy\/en\/news-research\/latest-news\/natural-gas\/080326-egypt-leads-us-lng-cargo-destinations-in-july-amid-cross-basin-competition-for-supply\" target=\"_blank\">S&amp;P Global Energy CERA data<\/a>. The <span synonyms=\"record|document|report|file\" class=\"synonym\">file<\/span> cargo <span synonyms=\"count|rely|depend\" class=\"synonym\">depend<\/span> outpaced <span synonyms=\"major|main\" class=\"synonym\">main<\/span> <span synonyms=\"global|international|world\" class=\"synonym\">international<\/span> <span synonyms=\"buyers|consumers|patrons\" class=\"synonym\">patrons<\/span>, <span synonyms=\"including|together with\" class=\"synonym\">together with<\/span> South Korea (15), Italy (14), Japan (12), and India (11).<\/p>\n<p><strong><span synonyms=\"The volume|The quantity|The amount\" class=\"synonym\">The amount<\/span> tells <span synonyms=\"a different|a special|a unique|a distinct\" class=\"synonym\">a distinct<\/span> story:<\/strong> Egypt\u2019s <span synonyms=\"actual|precise\" class=\"synonym\">precise<\/span> July imports fell to 0.63 mn tons, down from a <span synonyms=\"record|document|report|file\" class=\"synonym\">file<\/span> 1.06 mn tons in June, even <span synonyms=\"as it|because it\" class=\"synonym\">because it<\/span> remained <span synonyms=\"one of the|one of many\" class=\"synonym\">one of many<\/span> largest single <span synonyms=\"buyers|consumers|patrons\" class=\"synonym\">patrons<\/span> of US cargoes, <a href=\"https:\/\/www.reuters.com\/business\/energy\/us-lng-exports-stall-july-despite-higher-lng-prices-2026-08-03\/\" target=\"_blank\">Reuters<\/a> <span synonyms=\"reports|reviews|stories|studies|experiences\" class=\"synonym\">experiences<\/span>.<\/p>\n<p><strong>A fragile <span synonyms=\"defense|protection\" class=\"synonym\">protection<\/span>:<\/strong> We <span synonyms=\"learned|discovered|realized\" class=\"synonym\">discovered<\/span> <span synonyms=\"last|final\" class=\"synonym\">final<\/span> week that port bottlenecks and <span synonyms=\"security|safety\" class=\"synonym\">safety<\/span> threats can disrupt <span synonyms=\"the supply|the availability|the provision\" class=\"synonym\">the availability<\/span> chain <span synonyms=\"in an instant|immediately|instantly|right away|straight away\" class=\"synonym\">instantly<\/span>. A <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/08\/02\/household-electricity-tariffs-hiked-by-an-average-of-12\/\" target=\"_blank\">drone strike<\/a> knocked the newly deployed Energos Winter FSRU at Damietta out of service, forcing the <span synonyms=\"country|nation\" class=\"synonym\">nation<\/span> to divert an incoming LNG <span synonyms=\"shipment|cargo\" class=\"synonym\">cargo<\/span> to Jordan\u2019s Aqaba port and draw backup <span synonyms=\"gas|fuel|gasoline\" class=\"synonym\">gasoline<\/span> <span synonyms=\"via|by way of|through\" class=\"synonym\">through<\/span> the Arab <span synonyms=\"Gas|Fuel|Gasoline\" class=\"synonym\">Fuel<\/span> Pipeline <span synonyms=\"instead|as an alternative|as a substitute\" class=\"synonym\">as a substitute<\/span>. <span synonyms=\"Also|Additionally\" class=\"synonym\">Additionally<\/span>, Egypt has already <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/08\/03\/israeli-gas-flows-to-egypt-hit-the-pipelines-physical-ceiling\/\" target=\"_blank\">maxed out pipeline imports<\/a> from Israel, leaving spot LNG as its <span synonyms=\"main|primary|major|principal|most important|foremost|fundamental|essential|important|predominant\" class=\"synonym\">primary<\/span> balancing <span synonyms=\"tool|device|software|instrument\" class=\"synonym\">instrument<\/span>.<\/p>\n<p><strong>BACKGROUND-<\/strong> The October wells are a small piece of a <span synonyms=\"much|a lot\" class=\"synonym\">a lot<\/span> <span synonyms=\"bigger|greater|larger\" class=\"synonym\">greater<\/span> push already underway. The Oil Ministry <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/08\/02\/oil-ministry-targets-160-new-oil-and-gas-wells-with-usd-7-2-bn-in-foreign-investment\/\" target=\"_blank\">is targeting 160 new oil and gas wells<\/a> this FY, backed by <span synonyms=\"at least|a minimum of|no less than|at the least|at the very least|not less than\" class=\"synonym\">a minimum of<\/span> USD 7.2 bn in <span synonyms=\"planned|deliberate\" class=\"synonym\">deliberate<\/span> <span synonyms=\"investment|funding\" class=\"synonym\">funding<\/span> from <span synonyms=\"foreign|overseas|international\" class=\"synonym\">overseas<\/span> <span synonyms=\"partners|companions\" class=\"synonym\">companions<\/span>, 70% of it earmarked for <span synonyms=\"development|improvement|growth\" class=\"synonym\">improvement<\/span> wells at <span synonyms=\"existing|present|current\" class=\"synonym\">present<\/span> fields, and <span synonyms=\"the rest|the remaining|the remainder\" class=\"synonym\">the remaining<\/span> for exploration. The ministry <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/11\/govt-fully-clears-usd-6-1-bn-in-arrears-to-intl-oil-companies\/\" target=\"_blank\">paid off more than USD 6 bn in arrears<\/a> to its <span synonyms=\"foreign|overseas|international\" class=\"synonym\">overseas<\/span> <span synonyms=\"partners|companions\" class=\"synonym\">companions<\/span> in full <span synonyms=\"back|again\" class=\"synonym\">again<\/span> in June, after sweetening export rights and <span synonyms=\"gas|fuel|gasoline\" class=\"synonym\">gasoline<\/span> <span synonyms=\"purchase|buy\" class=\"synonym\">buy<\/span> <span synonyms=\"prices|costs\" class=\"synonym\">costs<\/span> <span synonyms=\"for new|for brand spanking new|for brand new\" class=\"synonym\">for brand spanking new<\/span> <span synonyms=\"production|manufacturing\" class=\"synonym\">manufacturing<\/span> <span synonyms=\"specifically|particularly\" class=\"synonym\">particularly<\/span> to get majors drilling <span synonyms=\"again|once more\" class=\"synonym\">once more<\/span>.<\/p>\n<h3 class=\"jp-relatedposts-headline\"><em><span synonyms=\"Related|Associated\" class=\"synonym\">Associated<\/span><\/em><\/h3>\n<p><\/audio><\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Egypt is planning so as to add about 100 mmcf \/ d of gasoline in October from 5 new onshore and offshore wells at a mixed price of about USD 95 mn, in line with an unnamed government official. The marketing campaign depends on onshore and deepwater property: Eni\u2019s new effectively on the Zohr [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[176],"tags":[],"class_list":["post-2840","post","type-post","status-publish","format-standard","has-post-thumbnail","category-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v28.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t has five new gas wells planned to come online in October, but they aren\u2019t enough to stop the costly import cycle - daily business egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailybusiness.info\/?p=2840\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t has five new gas wells planned to come online in October, but they aren\u2019t enough to stop the costly import cycle\" \/>\n<meta property=\"og:description\" content=\"&nbsp; Egypt is planning so as to add about 100 mmcf \/ d of gasoline in October from 5 new onshore and offshore wells at a mixed price of about USD 95 mn, in line with an unnamed government official. 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daily business egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/dailybusiness.info\/?p=2840","og_locale":"en_GB","og_type":"article","og_title":"Gov\u2019t has five new gas wells planned to come online in October, but they aren\u2019t enough to stop the costly import cycle","og_description":"&nbsp; Egypt is planning so as to add about 100 mmcf \/ d of gasoline in October from 5 new onshore and offshore wells at a mixed price of about USD 95 mn, in line with an unnamed government official. The marketing campaign depends on onshore and deepwater property: Eni\u2019s new effectively on the Zohr [&hellip;]","og_url":"https:\/\/dailybusiness.info\/?p=2840","og_site_name":"daily business egypt","article_published_time":"2026-08-05T06:48:07+00:00","article_modified_time":"2026-08-05T23:43:27+00:00","og_image":[{"width":1920,"height":1280,"url":"https:\/\/dailybusiness.info\/wp-content\/uploads\/2026\/08\/2095.jpg","type":"image\/jpeg"}],"author":"editor","twitter_card":"summary_large_image","twitter_misc":{"Written by":"editor","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/dailybusiness.info\/?p=2840#article","isPartOf":{"@id":"https:\/\/dailybusiness.info\/?p=2840"},"author":{"name":"editor","@id":"https:\/\/dailybusiness.info\/#\/schema\/person\/5c888b833e3e0965286e12f36635bd51"},"headline":"Gov\u2019t has five new gas wells planned to come online in October, but they aren\u2019t enough to stop the costly import cycle","datePublished":"2026-08-05T06:48:07+00:00","dateModified":"2026-08-05T23:43:27+00:00","mainEntityOfPage":{"@id":"https:\/\/dailybusiness.info\/?p=2840"},"wordCount":462,"commentCount":0,"publisher":{"@id":"https:\/\/dailybusiness.info\/#organization"},"image":{"@id":"https:\/\/dailybusiness.info\/?p=2840#primaryimage"},"thumbnailUrl":"https:\/\/dailybusiness.info\/wp-content\/uploads\/2026\/08\/2095.jpg","articleSection":["Podcast"],"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/dailybusiness.info\/?p=2840#respond"]}]},{"@type":"WebPage","@id":"https:\/\/dailybusiness.info\/?p=2840","url":"https:\/\/dailybusiness.info\/?p=2840","name":"Gov\u2019t has five new gas wells planned to come online in October, but they aren\u2019t enough to stop the costly import cycle - 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