Egypt : EGAS Announces 2024 International Bid Round for 12 New Oil and Gas Blocks in the Mediterranean and Nile Delta

The Egyptian Ministry of Petroleum and Mineral Resources has announced that the Egyptian Natural Gas Holding Company (EGAS) has launched a new international 2024 bid round for the exploration and exploitation of natural gas and crude oil in 12 blocks in the Mediterranean and Nile Delta.

This includes 10 offshore blocks and two onshore blocks through Egypt Upstream Gateway (EUG).

This bid round is part of the Ministry of Petroleum and Mineral Resources’ efforts to attract new investments to Egypt in line with its strategy to exploit promising opportunities in the field of gas and oil exploration, especially in the Mediterranean Sea, which holds significant potential as a promising basin for natural gas.

Karim Badawi, Minister of Petroleum and Mineral Resources, stated that the launch of this bid round for natural gas exploration supports Egypt’s direction toward intensifying exploration activities in the Mediterranean, especially in light of the growing interest in achieving new discoveries and increasing natural gas production, which has become a crucial element in both the local and global energy mix.

According to the EUG website, the bid round will be closed on Tuesday 25th of February 2025.