The Ministry of Petroleum and Mineral Resources (MoPMR) has announced 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 Western Desert. This initiative is part of Egypt’s strategy to boost oil and gas output.
The bidding process will be facilitated through the Egypt Upstream Gateway (EUG) platform, and bids will remain open until May 4, 2025.
This announcement follows the successful conclusion of bids for 13 exploration blocks and mature fields, securing over $700 million in investments. Further investments are expected if commercial discoveries are made.
To enhance natural gas production, the MoPMR is offering seven undeveloped discoveries in the Mediterranean, categorized into two groups for accelerated extraction and maximized economic returns.
The first group includes the Aten, Meret, and Rahmat fields, while the second group features the Salamat, Satis, and Salmon fields. These assets present significant opportunities to increase gas supply and meet rising demand.
In addition, the ministry is opening six exploration blocks in the Western Desert and the Gulf of Suez, which are considered high-potential areas.
The Western Desert blocks are North East Bir El Nos, South Fayoum, and Wadi Sannur, while the Gulf of Suez blocks are East Geisum, East Gebel El Zeit, and East Shadwan.
Through this initiative, Egypt aims to expand its energy sector and attract new investments in exploration and production.
