Egypt opens new oil, gas bidding round with 13 prime ppportunities
Egypt’s Petroleum Ministry has launched a new round of investment opportunities in the oil and gas sector, including seven undeveloped fields in the Mediterranean Sea and six exploration areas in the Gulf of Suez and the Western Desert. The bidding process, facilitated through the Egypt Upstream Gateway (EUG), will remain open for two months, closing on 4 May 2025.
The move aligns with the ministry’s ongoing efforts to attract fresh investments in exploration and production. It follows the recent bidding process for 13 exploration blocks and mature fields, which received offers currently under evaluation. Expected investments in these opportunities exceed $700 million and could double upon commercial discoveries.
Strategic Investment Opportunities in Mediterranean
The ministry is seeking to boost natural gas production in the Mediterranean by offering seven undeveloped discoveries. These fields are divided into two clusters to accelerate production and enhance economic returns.
The first cluster includes the Aten, Merit, and Rahmat fields, while the second consists of Nots, Salamat, Satis, and Salmon fields. These investments aim to expand gas output to meet increasing demand.
For the first time, the ministry is applying a cluster system for offering undeveloped discoveries through the open investment map on the EUG. This innovative approach is designed to improve investment returns, reduce production costs, and expedite development.
Exploration Opportunities in Western Desert and Gulf of Suez
In addition to Mediterranean prospects, the ministry is also offering six exploration areas in the Western Desert and Gulf of Suez, presenting promising opportunities for further exploration.
The Western Desert areas include North East Beer El-Nus, South Fayoum, and Wadi Sanur, while the Gulf of Suez areas consist of East Geisum, East Gebel El-Zeit, and East Shadwan. These projects are expected to drive expansion in Egypt’s oil and gas production, reinforcing the sector’s contribution to the national economy.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser