Egypt launches new oil and gas bid round

Egypt

CAIRO, September 26, 2023 – Egypt has opened a new oil and gas bid round with 27 onshore and offshore concessions on offer, the country’s Ministry of Petroleum and Mineral Resources announced on Monday.

The round includes 10 blocks in the Western Desert, two blocks in the Eastern Desert, seven blocks in the Gulf of Suez and four blocks in the Red Sea.

The deadline for offers has been set for February 25, 2024.

In July 2023, the country initiated a USD 1.8-billion drilling campaign in the Mediterranean Sea and Nile Delta consisting of 35 wells that is expected to be complete before the end of the 2024/25 financial year.

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