The Egyptian Ministry of Petroleum and Mineral Resources offered 7 areas affiliated with the General Petroleum Corporation for oil and gas exploration, development and research, according to data from the ministry's digital portal for exploration and production.
The data added that the bidding period will remain open for one month, with the closing date set for December 12, 2024.
The 7 areas include the West Gharib area overlooking the Gulf of Suez, the Wadi Dara area, the Abu Senan area, the North Shadwan 1 area, the North Shadwan 2 area, and the North Shadwan 3 area.
The ministry also offered 4 areas affiliated with the General Petroleum Corporation for oil and gas production development, including the North October, Mansoura and Qantara areas, and North July areas.
The Egyptian Natural Gas Holding Company launched a global bid last August, under the name "Egypt International Bid for 2024", which includes 12 exploration sectors in the Mediterranean and the Nile Delta.
Egyptian Minister of Petroleum and Mineral Resources Karim Badawi said this week that his ministry is working to increase local production of natural gas and crude oil, to meet the growing needs of the local market.
The minister added that his ministry is working to increase the quantities of gas consumed in the Egyptian market during the fiscal year 2024-2025 by about 14%, noting that natural gas production during the past two years declined by up to 25%.
Egyptian Prime Minister Mostafa Madbouly stated last August that the government aims to restore oil and gas production to normal levels by 2025.
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