The Egyptian Natural Gas Holding Company (EGAS) set a new international tender for oil and gas exploration rights in the Nile Delta and Mediterranean Sea, according to its announcement on Tuesday.
EGAS has revealed the tender will set for 12 blocks split evenly between onshore and offshore, adding the deadline for the offers in the bid round was set for April 30, 2023.
This step aims to attract new foreign companies to operate in Egypt and increase production of natural gas, which is an important component of the global energy mix said Minister of Petroleum Tarek al-Molla.
The tender launched by EGAS for 2022 is an extension of the Ministry’s business strategy inaugurated in 2016 to attract investments to search for gas and petroleum in promising areas.
The Egyptian Upstream Gateway (EUG) will provide all 2022 bid round basic information, including coordinates of offered open blocks, the main terms and conditions and the model agreement.
The companies can easily review and instantly purchase principle and optional data base through EUG Portal, the statement mentioned.