According to a statement from the Ministry of Petroleum and Mineral Resources on September 25, Egypt’s government-owned oil enterprises launched an international tender for exploration contracts in 23 unexplored regions.
The new oil exploration areas include 10 in the Western Desert, two in the Eastern Desert, seven in the Suez Gulf area, and four in the Red Sea.
The Egyptian General Petroleum Corporation (EGPC) and the South Valley Egyptian Petroleum Holding Company (GANOPE) launched the tender.
Bids will be accepted until Sunday, February 25, 2024.
By 2025, Egypt aims to dig 35 new exploratory natural gas wells in the Mediterranean and the Nile Delta at a cost of $1.8 billion.
The country has revised its projected total investments in oil and natural gas to $9 billion (EGP 277 billion) during FY2023–2024.
In the last half-decade, Egypt’s petroleum industry, in collaboration with international firms, has drilled 576 fresh natural gas wells for exploration and uncovered 289 novel reserves of gas and petroleum.
