Petroleum Minister Tareq al-Molla said on Tuesday that Egypt plans to hold a fresh international tender for natural gas and crude oil exploration in 12 new blocks in the Mediterranean and Nile Delta regions.
The international tender is set to be launched by the Egyptian Natural Gas Holding Company (EGAS) with the aim to attract new foreign companies to operate in Egypt, Molla said.
This is part of a strategy meant to intensify exploration activities in the Mediterranean in a bid to increase production of natural gas, which is an important component of the global energy mix, the minister noted.
This is the third tender to be put forward through Egypt’s digital portal for exploration and production that was launched early 2021, Molla further said.
The portal allows quick access to basic information about tenders, concessions and technicalities, the minister added.