British multinational oil and gas company, Shell is on the verge of finalizing a deal to acquire development rights for Egypt’s offshore Rahmat natural gas field.
This site is regarded as a major untapped resource in the region, according to Zawya News Agency. The field holds an estimated 1.3 trillion cubic feet of natural gas and 80 million barrels of condensate, based on figures from the Pharaonic Petroleum Company, a joint venture between BP and the Egyptian government
Rahmat Field
Situated in the northeastern Mediterranean, the Rahmat field is a deepwater resource field that ranks among the region’s most valuable undeveloped assets, attracting significant interest from international energy companies keen to leverage the increasing importance of Mediterranean gas discoveries.
Shell’s entrance comes after BP relinquished its concession to the field two years ago due to challenges in meeting development deadlines. Shell is said to have submitted the highest offer during a recent international bidding round for 13 blocks including the Rahmat field which wrapped up in early July 2025.
According to local news outlet, Zawya News Agency, In March 2025, Egypt’s Ministry of Petroleum and Mineral Resources offered seven undeveloped Mediterranean fields, including Rahmat, along with six exploration concessions in the Gulf of Suez and the Western Desert to local and international firms in a bid to to unlock value from its offshore and onshore reserves, drawing fresh investments from both local and international energy companies.
