Egypt launches 1st international bid for oil brownfields development

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The bid covers eight oil-producing fields

Staff Writer, Arab Finance

March 6, 2023

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Arab Finance: The Egyptian General Petroleum Corporation (EGPC) launched its first international bid to develop petroleum brownfields via Egypt Upstream Gateway (EUG), according to a statement by the Petroleum and Mineral Resources Ministry on March 3rd.

The bid covers eight oil-producing fields in the Gulf of Suez and the Eastern Desert, namely Ras Budran, Zeit Bay, Shokeir Bay, Gasorina, Ras El Esh, East Zeit, Ashrafi, and Wadi El Sahl Development Area.

The move comes within the ministry’s plans to lure research, production, and service companies to invest in these fields by using the latest technologies.

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