Egypt’s natural gas agency, EGAS, and energy giant Chevron have just teamed up for a major new exploration project in the Mediterranean. They’ve signed an $88 million deal focused on the “Lotus block,” a deep-water area roughly 200 kilometers off the coast. This is an exciting move because this specific patch of ocean hasn’t seen much deep drilling before. The plan includes digging two new exploration wells and analyzing 3D seismic data to see what’s hiding beneath the sea floor.