Egypt adds 40 million cubic feet of gas to production from new discovery
In a new development, the Egyptian fuel sector announced that Khaleeda Petroleum Company has discovered a new gas field by drilling the deep exploratory Watta well in the Western Desert at a depth of 15,000 feet. The well has already entered production and will be connected to the National Gas Grid before the end of July.
Khaleeda, a joint venture between the Egyptian Petroleum Authority and Apache Corporation, stated that final production tests yielded an output rate of 40 million cubic feet of gas per day, reflecting the well’s promising potential and bolstering efforts to increase domestic production.
With record-high temperatures in Egypt over recent days and a surge in electricity consumption, Mansour Abdelghani, the official spokesperson for the Ministry of Electricity and Renewable Energy, said the National Electricity Grid is ready to accommodate the noticeable rise in load caused by the ongoing heatwave, high temperatures, and humidity levels. Electricity loads have indeed recorded levels close to the grid’s highest historical consumption of 39.8 gigawatts, recorded in August 2025, and reached approximately 38.6 gigawatts in recent days. Loads are expected to surpass the 39-gigawatt threshold in the coming days, a scenario for which preparations have been made.
The Egyptian government stated that a meeting chaired by the Prime Minister emphasized that the initiative aims to expand the base of Egyptian exporters under government patronage and in partnership with local and international entities, through an integrated process starting with assessing companies’ readiness for export and raising awareness of foreign market requirements.
Investment and Foreign Trade Minister Dr. Mohamed Fared said the initiative is based on preparing an awareness and capacity-building program for productive companies with export potential, thereby contributing to expanding the exporter base and maximizing the benefits of the support and assistance programs provided by the ministry.
A source at the Egyptian Financial Regulatory Authority denied rumors circulating on several anonymous social media accounts regarding the issuance of a decision to close branches of a large number of non-banking finance companies and institutions, affirming that such information has no basis in fact.
