First Global Bid for Oil, Gas Exploration Deadline Extended to Sep.30

Tarek El-Molla, Minister of Petroleum and Mineral Resources, announced on Friday that the deadline for the 2021 first global bid for oil and gas exploration has been extended to September 30.

Al-Mulla added, during a session organized by the American Chamber of Commerce in Egypt, that many international oil companies called for an extension to the bid deadline from the previously announced date, August 1.

Egyptian General Petroleum Corporation (EGPC) allows oil and gas exploration in 24  region in the Gulf of Suez, Western Desert and the Mediterranean through the Egypt's Upstream Gateway, which allows the international companies to expand exploration and production activities through geological data.

On the other hand, the minister has previously announced that Egypt aims to achieve self-sufficiency in gasoline and diesel by 2023, through an integrated plan that includes a number of projects being implemented, in a way that will enable it to meet all the needs of the local market.