Egypt plans to hold 3 int’l tenders for oil, gas exploration in 2023 – EGYPS

Egypt plans to offer three international tenders for oil and gas exploration and production in 2023, said Minister of Petroleum and Mineral Resources, Tarek al-Molla during the inauguration of Egypt Petroleum Show – EGYPS 2023 on Sunday.

The petroleum sector has achieved many successes in 2022, El Molla said, citing the increase of petroleum exports to $18.2 billion and achieving a surplus in the petroleum balance of trade for the third consecutive year amounting to $3 billion.

Egypt has seen an unprecedented leap in its natural gas export revenues, which have increased 13-fold over the past eight years, according to a report issued in September by the Cabinet’s Information and Decision Support Centre (IDSC).