Egypt Plans to Launch Int'l Tender for Gas, Oil Exploration in Med., Nile Delta

On Tuesday, Egyptian Minister of Petroleum Tareq el Molla said that Egypt plans to hold a fresh international tender for natural gas and crude oil exploration in 12 new blocks in the Mediterranean and Nile Delta regions.

The international tender is set to be launched by the Egyptian Natural Gas Holding Company (EGAS) with the aim to attract new foreign companies to operate in Egypt, Molla said.

This is part of a strategy meant to intensify exploration activities in the Mediterranean in a bid to increase the production of natural gas, which is an important component of the global energy mix, the minister noted.

This is the third tender to be put forward through Egypt's digital portal for exploration and production that was launched in early 2021, Molla further said.