The Ministry of Petroleum and Mineral Resources (MoPMR) has opened a new round of investment opportunities, inviting bids for seven undeveloped fields in the Mediterranean Sea and six exploration blocks in the Gulf of Suez and the Western Desert.
As part of its strategy to boost oil and gas output, the ministry is leveraging the Egypt Upstream Gateway (EUG) platform to facilitate the bidding process, which will remain open until May 4, 2025.
This announcement follows the successful closure of bids for 13 exploration blocks and mature fields, securing over $700 million in investments. These figures are expected to rise further if commercial discoveries materialize.
To enhance natural gas production, the MoPMR is offering seven undeveloped discoveries in the Mediterranean, grouping them into two categories to accelerate extraction and maximize economic returns. The first category includes the Aten, Meret, and Rahmat fields, while the second consists of the Salamat, Satis, and Salmon fields. These assets provide significant opportunities to ramp up gas supply and meet growing demand.
In addition, the ministry is opening six high-potential exploration areas in the Western Desert and the Gulf of Suez. The Western Desert blocks include North East Bir El Nos, South Fayoum, and Wadi Sannur, while the Gulf of Suez offerings feature East Geisum, East Gebel El Zeit, and East Shadwan. By launching these opportunities, Egypt aims to expand its energy sector and attract fresh investments into exploration and production.
Source:egyptoil-gas
