Egypt's Ministry of Petroleum and Mineral Resources has unveiled an international bidding round encompassing 23 fresh zones, with 10 allocated to the Egyptian General Petroleum Corporation (EGPC) and 13 to the South Valley Egyptian Holding Company for Petroleum (Ganope).
These zones are geographically distributed across 10 regions in the Western Desert, two regions in the Eastern Desert, seven regions in the Gulf of Suez, and four regions in the Red Sea.
The bidding process is being facilitated through Egypt's digital platform for exploration and production.
Minister of Petroleum and Mineral Resources, Tarek El-Molla, underscored that this new bidding round introduces unexplored areas and leverages cutting-edge digital tools and methodologies. It is being presented through Egypt's digital platform for exploration and production, which offers an advanced marketing platform for available petroleum opportunities.
El-Molla emphasized that this bidding round meticulously caters to the diversity of sectors offered across all petroleum regions. It introduces a novel opportunity in the Red Sea areas, where advanced seismic surveys have yielded valuable geological data processed according to global best practices.
He further explained that this initiative underscores Egypt's ongoing commitment to augment petroleum resource production and elevate investments designated for this sector. This, in turn, enriches the production process and geological databases for petroleum production regions.
The Ministry is steadfast in its commitment to providing comprehensive support to winning companies in these bids, irrespective of whether they are existing partners in Egypt, who consistently seek to amplify their investments and extend their operational footprint, or new entrants aiming to invest in the Egyptian market. Egypt offers a wealth of promising opportunities, established petroleum possibilities, tangible success stories, a secure political and security environment, and advanced infrastructure to these potential partners.
Oil rig desert oil and gas petroleum - Photo by Pixabay
