The Ministry of Petroleum and Mineral Resources announced the launch of new investment opportunities for 7 undeveloped fields in the Mediterranean Sea, and 6 exploration areas in the Gulf of Suez and the Western Desert, through the Egypt Exploration and Production Portal, as part of its ongoing efforts to increase production of crude oil and gas. Bidding will be open for two months, and the closing date will be May 4, 2025.
This comes within the framework of the Ministry’s strategy aimed at attracting new investments in the field of research, exploration and production and enhancing sustainability in the oil and gas sector.
This announcement comes as a continuation of the Ministry’s recent efforts to attract new investments in the field of research, exploration and production, by closing the door to bidding on 13 exploration areas and old fields, as bids related to these opportunities have been received and are being evaluated with expected investments exceeding $700 million, which will double in the event of a commercial discovery.
The Ministry of Petroleum seeks to enhance natural gas production in the Mediterranean Sea by offering 7 undeveloped discoveries. The discoveries have been divided into two groups to ensure the acceleration of production operations and maximization of economic returns.
The first group includes the “Aten”, “Merit”, and “Rahmat” fields, while the second group includes the “Nots”, “Salamat”, “Satis”, and “Salmon” fields. These discoveries represent important investment opportunities to increase gas production to keep pace with the growing demand for it.
This is the first time that a number of undeveloped discoveries have been offered in the “Clusters” system through the open investment map of the Egypt Exploration and Production Portal, which is an innovative mechanism that aims to improve the return on investment, reduce production costs, and facilitate and accelerate the development and production process.
The Ministry also offers 6 exploration areas in the Western Desert and the Gulf of Suez, which represent promising opportunities in the field of exploration. They include 3 areas in the Western Desert, namely “Northeast of Bir al-Nas”, “South Fayoum”, and “Wadi Sanur”, and 3 areas in the Gulf of Suez, namely “East Geisum”, “East Gebel al-Zeit”, and “East Shadwan”.
These opportunities open up great prospects for expanding oil and gas production and enhancing the positive impact on the national economy.
The Egypt Exploration and Production Portal allows investors to access all information related to investment opportunities through its official website. This platform is a key tool for supporting transparency, as it provides accurate geological and geophysical data, in addition to advanced analytical tools that help companies evaluate opportunities and make informed investment decisions, which contributes to creating an attractive investment environment.
The Ministry of Petroleum and Mineral Resources continues its ongoing efforts to attract local and international investments in the oil and gas sector, which contributes to increasing production and enhancing sustainability in this vital sector.
