Egypt plans to launch two new bids for oil and gas exploration in over 16 regions in the country’s south and the Red Sea by the end of 2023, according to media reports.
Egypt extended the closing date for two previous bids to mid-July earlier this year, allowing more time for companies interested in exploring the Mediterranean Sea, Nile Delta, Gulf of Suez, and the Eastern Desert.
One of the sources revealed that these upcoming bids will cover eight regions under the Egyptian General Petroleum Corporation and at least eight regions under the South Valley Petroleum Holding Company, reported Asharq Business.
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