Egypt has launched a new international tender for oil and gas exploration rights in the Nile Delta and Mediterranean Sea
The tender comprises 12 blocks, split between offshore and onshore. (Image source: Adobe Stock)
The tender comprises 12 blocks, split between offshore and onshore, with the deadline for bids set for April 30 2023.
This aligns with the Ministry’s strategy launched in 2016 to attract more investments for oil and gas exploration in Egypt for existing companies, while providing the opportunity for new organisations to also get involved, according to Egypt’s oil Minister, Tarek el-Molla. As of December 22, he announced that Egypt was set to invest a total of US$2.1bn in oil and natural gas exploration plans until 2025.
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