The Ministry of Petroleum and Mineral Resources has recently initiated a fresh global bidding process for 2024 through the Egyptian Natural Gas Holding Company (EGAS).

This bidding aims to explore natural gas and crude oil in 12 sectors across the Mediterranean Sea and the Nile Delta, covering 10 marine sectors and two land sectors.

This endeavor aligns with the Ministry’s strategy to attract new investments to Egypt by leveraging opportunities in gas and oil exploration.

Minister Karim Badawi unveiled a new incentive package designed to boost crude oil and natural gas production, underscoring the sector’s dedication to fostering a favorable investment environment and encouraging partners to increase their investments.

Source: State Information Service Egypt