Egypt awards seven oil, gas blocks to boost exploration, output

Egypt has awarded seven new oil and gas exploration and production blocks as it steps up efforts to attract fresh investment and increase hydrocarbon output, the Ministry of Petroleum and Mineral Resources said Thursday.

The agreements, awarded through the Egypt Upstream Gateway (EUG), will bring in new investments and include commitments to drill at least 17 exploration wells, the ministry added.

Cheiron secured rights to two blocks — North Satra and East Sidi Barani — where it plans to drill four wells. Apache was awarded the West Kanayis K block in the Western Desert to drill several wells aimed at boosting production.

Pharos Fayoum will explore the South Abu Sennan area, targeting three wells, while IPR Energy Group (IPR) was awarded South Wadi El Rayan with plans to drill three wells. A consortium of Egypt’s NPC Energy Ltd. and Britain’s GHP won the G and HNW mature field sectors operated by the Egyptian General Petroleum Corporation (EGPC), with plans for seven development wells to lift output.

The ministry said it expects to announce the awarding of four additional Mediterranean blocks soon, following a recent bid round by Egyptian Natural Gas Holding Company (EGAS).

Egypt is also offering further investment opportunities through its EUG platform, covering undeveloped offshore Mediterranean fields and new exploration areas in the Western Desert and Gulf of Suez. The bidding deadline is set for July 2, 2025, with results to follow upon bid evaluation.

The new awards come as Egypt seeks to ramp up production to meet domestic demand and support export ambitions amid regional energy challenges.

Attribution: Amwal Al Ghad English