Texas-based ExxonMobil Egypt announced that it discovered natural gas off the Mediterranean coast of Egypt. The company said in a statement that this significant discovery could play an important role in supporting the North African country’s struggle for oil.
This is a significant step in the company’s exploration activities in the Egyptian energy sector, which continues to be a major investment area locally and internationally.
ExxonMobil announced that it has completed the Nefertari-1 discovery north of the Malakiya block, approximately 8 kilometres off the northern coast of Egypt. The Nefertari Well is located in the northern Malakia area of the western Mediterranean Sea at a depth of 1,720 meters.
ExxonMobil said the well was drilled by Valaris Ltd.’s DS9 drilling vessel. ExxonMobil is working with Qatar Energy on the North Malakiya block following an agreement signed in March 2022 to acquire a 40% stake in the project from Qatar Energy. ExxonMobil acquired the North Malakiya offshore concession, covering 4,847 square kilometres in water depths of 1,000 to 2,000 meters, in 2020.
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According to a report published by the Ministry of Petroleum and Mineral Resources in January 2025, oil drilling has begun in the Western Mediterranean, with Chevron operating the Khanjar-1 well in North Dhaba and ExxonMobil operating the Nefertari-1 well.
ExxonMobil Egypt, a subsidiary of ExxonMobil, plays a key role in Egypt’s energy market as a producer of lubricants and oil.
Despite Egypt’s ambitions to become a major energy hub and supplier to Europe, oil production fell to its lowest level since 2017 in June 2024, and the country is set to increase its imports of liquefied natural gas to the highest level in nearly six years.
