Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of a three-year extension to the Egypt Upstream Gateway (EUG) contract between the Egyptian General Petroleum Corporation (EGPC) and Schlumberger (SLB) Egypt. The renewed agreement includes $44m in new investments to upgrade the platform's capabilities. Since its 2021 launch, the EUG has attracted nearly $1.2bn in investments.
Salah Abdelkerim, CEO of the Egyptian General Petroleum Corporation (EGPC), and Sherif Bayoumi, Country Manager of Schlumberger (SLB) Egypt, signed the three-year extension to the Egypt Upstream Gateway (EUG) contract in the presence of Minister Karim Badawi. The new agreement allocates around $44m for developing the digital platform, which has become a state-of-the-art tool for simplifying investment procedures and enhancing transparency.
Launched in 2021, the EUG has drawn nearly $1.2bn in new investments for oil and gas exploration and production. It has facilitated investments in 52 exploration blocks, the drilling of nearly 130 wells, and hosts around 50 international and local companies benefiting from its integrated digital services. The platform offers investors comprehensive geological data, virtual data rooms, and specialized studies that speed up decision-making, reduce exploration risks, and boost operational efficiency.
Minister Badawi emphasized that the EUG 'has evolved into a state-of-the-art digital platform designed to simplify investment procedures and enhance transparency.' While at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025), Badawi also witnessed the signing of an agreement to launch an advanced seismic survey using Ocean Bottom Node (OBN) technology in Egypt's Eastern Mediterranean, covering 95,000 square kilometres, executed by a SLB and Viridien consortium. The project will unfold in three phases, starting with 18,000 square kilometres in 2026. Badawi stated that the project 'reflects Egypt’s commitment to unlocking the full potential of its gas resources... and attracting further international interest.'