Egypt is ramping up efforts to attract foreign investment in its oil and gas sector with the launch of a new licensing round, offering 13 exploration and production opportunities. The initiative underscores the government’s commitment to expanding its hydrocarbon industry amid growing energy demand across North Africa.
The licensing round covers key petroleum-rich regions, including the Mediterranean Sea and the Nile Delta. The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) are leading the bidding process, aiming to attract local and international investors.
Egypt’s energy sector has witnessed increased activity in the 2024/25 fiscal year. EGAS has completed seven exploratory wells, initiated five development projects, and placed eight new wells into production. Major industry players, including bp, Eni, and ExxonMobil, have also intensified operations. bp is drilling the Fayoum-5 well, Eni is preparing two new wells at the Zohr gas field, and ExxonMobil is set to begin offshore exploration in the North Marakia Offshore Concession.
Looking ahead, Egypt plans to drill 17 more exploration wells and invest $434 million in gas field development. The country is also advancing a global bidding process for 12 additional gas exploration blocks, with results expected later in 2025. With an estimated $1.2 billion investment in 2025/26, Egypt is reinforcing its position as a key energy player in Africa and the Mediterranean.
Source: World Oil
