Egypt Today: CAIRO – 31 March 2026: Clay Neff, President of Exploration Operations at Chevron, said the company is moving forward with plans to deepen its presence in Egypt by drilling two new gas wells this year, one in the Narges field and another in the Western Mediterranean in partnership with Shell.

Speaking on the sidelines of the Egypt Energy Show (EGYPES 2026), Neff highlighted Egypt and the Eastern Mediterranean as core pillars of Chevron’s investment roadmap for the coming years, reflecting the region’s growing strategic importance within the company’s global portfolio.

He noted that Chevron aims to raise its operational production capacity in the region by as much as 50 percent over the next five years, a step expected to strengthen cash generation and enhance profitability from its regional operations.

Neff pointed out that Chevron’s presence in Egypt dates back nearly nine decades, beginning in 1937 with petroleum product distribution before expanding into exploration and production activities in recent years.

He added that the company currently produces more than 2 billion cubic feet of gas per day across the Eastern Mediterranean, with a significant share supplied to Egypt through a fully integrated system of pipelines and liquefaction infrastructure.

Chevron is also advancing broader expansion initiatives that include modernizing existing facilities and increasing production capacity, alongside ongoing engineering and design work on the Aphrodite gas field in Cyprus. A recently signed government agreement enables the construction of a subsea pipeline connecting Cyprus directly to Egypt.

Neff said the company is targeting an early final investment decision on the project next year, expressing confidence that close cooperation between Cairo and Nicosia will support timely progress.

He emphasized that meeting domestic and regional energy demand remains the company’s top priority before directing additional supplies toward export markets in Europe or elsewhere.

Neff concluded that Egypt’s well-developed energy infrastructure, particularly its pipeline network and liquefaction plants, provides a clear strategic edge, adding that new discoveries and capacity expansions will gradually support higher export volumes while safeguarding local supply needs.