Egypt launches int’l bid for oil, gas exploration in Mediterranean, Nile Delta

The Egyptian Natural Gas Holding Company (EGAS) on Tuesday announced launching a new International Bid Round for Oil and Gas Exploration for the year 2024 in 12 blocks in the Mediterranean and Nile Delta, according to the Ministry of Petroleum and Mineral Resources. The bid includes 10 offshore and two onshore regions, the ministry said, adding that bids could be submitted through the Egyptian Upstream Gateway (EUG) by visiting the following hyperlink (https://eug.petroleum.gov.eg). The bid falls within the framework of Petroleum Ministry's efforts to attract further oil and gas investments to Egypt, particularly in the Mediterranean, according to a statement issued by the Ministry on Tuesday. The launch of the bid comes in line with state's vision towards intensifying natural gas exploration activities in the Mediterranean, said Minister of Petroleum and Mineral Resources Karim Badawi. He added that the bid is the eighth to be launched using the latest digital platforms via the EUG, which was introduced by the Petroleum Ministry in 2021. Source: State Information Service Egypt