Egypt Awards Seven New Oil and Gas Exploration Blocks to International Companies
The Egyptian Ministry of Petroleum and Mineral Resources has completed the evaluation process for seven new exploration and production blocks under the Egyptian General Petroleum Corporation, marking a significant step in the country’s strategy to attract new investments in the oil and gas sector. The blocks, offered through the Egypt Upstream Gateway, will bring substantial new investments and commit to drilling at least 17 new exploratory wells.
Cheiron Petroleum Corporation secured the North Sitra and East Sidi Barrani blocks, committing to drill four exploratory wells across both locations. Apache Corporation was awarded the West Kanayis K block to increase production and support development work in the Western Desert under an integrated agreement framework.
Pharos Fayoum Company obtained the South Abu Senan block with plans to drill three exploratory wells, while IPR Energy Group secured the South Wadi El Rayan area, also committing to three exploratory wells. The NPC & GHP consortium was awarded the G and HNW blocks of General Petroleum Company brown fields, planning to drill seven wells to enhance and increase production.
The Ministry has also announced plans to award four additional blocks in the Mediterranean Sea, recently offered through a bid round launched by the Egyptian Natural Gas Holding Company. To continue expanding investment opportunities, the Egypt Upstream Gateway currently features various new prospects including undeveloped Mediterranean discoveries and new Western Desert and Gulf of Suez exploration blocks, with bids due by July 2, 2025.
Source: egyptoil-gas.com