Egypt has launched a new international tender for oil and gas exploration rights in the Nile Delta and the Mediterranean Sea, the official news agency reported Tuesday.
The tender has been set for 12 blocks, equally divided between onshore and offshore, and the deadline for bids under the tender has been set for April 30, 2023, said the tender announcement.
El Molla explained that the bid submitted by the Egyptian Natural Gas Holding Company (EGAS) for the year 2022 is a continuation of the ministry's working strategy that began in 2016 to attract more investments for oil and gas exploration in promising areas, especially the Mediterranean. He stressed that the strategy provides opportunities to attract new international companies to work in Egypt, in addition to encouraging operating companies to increase their investments and expand their areas of work.
El Molla said the offer is the third to be launched using the latest digital features of the EUG, which was launched by the Ministry in early 2021 as part of the adoption of a new approach to develop all its activities in the field of attracting investment. for research and exploration projects. He stressed that the portal provides digital and quick access to basic information on the proposed bid and its regions, technical data for each region, seismic surveys and well data, in addition to the basic terms and conditions, the agreement form and procedures for participating in the tender.