Egyptian Natural Gas Holding Co. (EGAS) has launched a new bid round for exploration and exploitation of natural gas and crude oil in 12 blocks in the Mediterranean and the Nile Delta.
Companies have until Feb. 25, 2025, to bid for the blocks.
The bid round includes 10 offshore blocks (North El Fuka Offshore Block 1, North Burg El Arab Offshore Block 2, North Simian Offshore Block 3, West Zohr Offshore Block 4, North West Atoll Offshore Block 5, South Zohr Offshore Block 6, North Ras El Tin Offshore Block 7, East Alexandria Offshore Block 8, West Atoll Offshore Block 9, North Nour Offshore Block 10) and two onshore blocks (West Disouq Onshore Block 11, North El Mansoura Onshore Block 12), the Ministry of Petroleum and Mineral Resources said in a release on Aug. 27.
This bid round is part of the Ministry’s efforts to attract new investments to Egypt, in line with its strategy to exploit oil and gas exploration opportunities, especially in the Mediterranean Sea, “which holds significant potential as a promising basin for natural gas,” the Ministry said.