Egypt launches new global oil, gas exploration tender

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Launched by state-owned Egyptian Natural Gas Holding Company (EGAS), the global tender was set for 12 blocks, split evenly between onshore and offshore

Staff Writer, Mubasher

December 27, 2022

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Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, announced the launch of a new international tender for crude oil and gas exploration in 12 regions in the Mediterranean Sea and the Nile Delta, state news agency MENA reported on Tuesday.

Launched by state-owned Egyptian Natural Gas Holding Company (EGAS), the global tender was set for 12 blocks, split evenly between onshore and offshore.

The tender comes in continuation of the petroleum ministry’s strategy, which was launched in 2016 to increase investments in the oil and gas exploration field in promising regions, particularly the Mediterranean Sea.

This strategy offers opportunities to attract new global companies to invest in Egypt and encourages operating firms to expand and increase their investments.

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