The Ministry of Petroleum and Mineral Resources of Egypt has opened a licensing round, offering seven offshore blocks in the Mediterranean Sea and six exploration areas in the Gulf of Suez and the Western Desert in an effort to attract further investments in the country’s oil and gas industry.
Egypt has put on offer seven undeveloped fields in the Mediterranean Sea, and six exploration areas in the Gulf of Suez and the Western Desert.
The bidding round is open for applications from March 2 until May 4, 2025, through the Egypt Exploration and Production Gateway (EUG) portal.
For the Mediterranean Sea bidding round, the discoveries have been divided into two groups to ensure the acceleration of production operations and maximization of economic returns.
The first group includes three fields open for bidding, while the second includes four.
This is the first time that a number of undeveloped discoveries have been offered in the clusters system through the open investment map on the EUG portal, which is an innovative mechanism that aims to improve the return on investment, reduce production costs, and facilitate and accelerate the development and production process.
As for Gulf of Suez, Egypt is offering three offshore areas.
According to the Egypt’s Ministry of Petroleum and Mineral Resources, these opportunities open up great prospects for expanding oil and gas production and enhancing the positive impact on the national economy.