Shell’s Velox-1X exploration well offshore Egypt has encountered encouraging signs of oil, raising the possibility of the first crude oil discovery in the largely underexplored Western Mediterranean.
The company began drilling the Velox-1X well in the North Cleopatra concession, within the Herodotus Basin, on 23 May 2026. The well reached its planned geological targets at a total depth of about 6,500 meters.
The team drilled the well at water depths of about 2,800 meters, making it the deepest well drilled in the Mediterranean so far. Shell used the Stena IceMAX drillship for the operation.
The drilling campaign finished about 10 days ahead of schedule and below budget. The well is located roughly 90 kilometers offshore from Egypt’s Mediterranean coastline.
Shell operates the well alongside the Egyptian Natural Gas Holding Company (EGAS), Chevron, and Tharwa Petroleum of Egypt. QatarEnergy is also expected to join the partnership.
The exploration team recovered a crude oil sample and is now analyzing geological and technical data, including electrical logging results. The findings will guide decisions on the next phase of exploration, which may include additional appraisal or exploration wells.
The Velox-1X well is part of Shell’s broader offshore exploration program in Egypt for 2026. The program has already delivered a gas discovery at the Sirius-1X well earlier this year and continues to advance previously discovered gas resources, including the Mina West development.
Egypt continues to encourage offshore exploration as it works to reverse declining gas production and strengthen domestic energy supply. The government has also introduced reforms aimed at creating a more attractive environment for energy investment.
Source: ocean-energyresources.com
African Energy Council