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Egypt Launches Global Tender for 23 New Gas and Oil Exploration Areas: Minister Tarek El Molla


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Egypt Launches New Global Tender for Gas and Oil Exploration

Egypt’s Oil Minister Tarek El Molla has announced the launch of a new global tender that includes 23 new gas and oil exploration areas.

New Bidding Opportunities for Egyptian Oil and Gas Exploration

The Egyptian minister has revealed that the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Petroleum Holding Company of the Southern Valley (Ganope) will be opening up bidding opportunities for 23 new regions. Out of these, 10 regions will be allocated to the Petroleum Corporation, and 13 regions will be assigned to Ganope. The regions include 10 in the Western Desert, 2 in the Eastern Desert, 7 in the Gulf of Suez, and 4 in the Red Sea.

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Utilizing Advanced Technology in the Exploration Process

The minister highlighted that the new bidding process incorporates cutting-edge digital tools and techniques. These have been utilized in the preparation and presentation of data through the Egyptian Digital Exploration and Production Portal. This portal serves as an advanced marketing platform, showcasing available oil opportunities.

Boosting Oil Production and Investment Opportunities

Furthermore, the minister emphasized that Egypt remains committed to increasing its oil production and attracting more investments in this sector. The new tender will contribute to the expansion of the production process and enrich the geological databases of oil production areas.

Source: RT

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