Illustrative photo of a natural gas field in the Mediterranean Sea. AP.
The company said that primary samples gathered from its drilling campaign at a depth of around 250 metres below sea level in the offshore Nile Delta confirmed "the presence of gas-bearing reservoir."
Shell Egypt noted that more analysis of the gathered data is necessary to establish the extent and potential recoverable resources of this finding.
The company is digging two more exploratory wells in Egypt.
“This discovery is an important step forward for Shell Egypt bolstering our growth aspirations and ongoing commitment as a key partner in Egypt’s energy landscape,” Vice President and Country Chair of Shell Egypt Khaled Kacem said.
Shell has been operating in Egypt since 1911, with diverse interests in joint ventures across Egypt, primarily in the Western Desert and Nile Delta.
In the Western Desert, Shell holds stakes in 19 oil and gas development leases and four exploration concessions. In the Nile Delta, Shell operates in northwest Damietta.
Egypt is working to maximize its energy resources to meet domestic demand and position itself as an energy hub.
The government announced in August a plan to drill 45 natural exploratory gas wells in the Mediterranean and the Nile Delta with $1.9 billion in investments until mid-2025.
Similarly, global energy giant British Petroleum (BP) plans to invest $3.5 billion in the exploration and development of natural gas resources in Egypt over the next three years.
The country expects to produce about eight million tons of liquefied natural gas (LNG) in 2023 after discovering a new gas field in the Nargis area in January.
Egyptian LNG exports increased by 14 percent year-on-year to 7.5 million tons in 2022.
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