Egypt is aggressively courting international oil and gas investors, launching a major promotional push for its 2025 Red Sea International Bid Round, which closes on May 3rd, 2026. Ganoub El Wadi Petroleum Holding Company (Ganope), working in cooperation with the Egyptian Petroleum Exploration Society (EPEX), convened a technical workshop drawing representatives from over 20 international and local exploration firms, including SLB, Dana Petroleum, TGS, and PetroService.
The bid round covers four offshore blocks — RS-Block 1, 2, 3, and 4 — originally announced by Petroleum Minister Karim Badawi in November 2025. A comprehensive re-evaluation of the Red Sea Basin was undertaken using both legacy and newly acquired data, including 2D seismic coverage of 10,400 line kilometers and broadband 3D seismic data exceeding 12,000 square kilometers — gathered through a joint project between Ganope and SLB.
Mohamed Radwan, Ganope Vice Chairman for Agreements and Exploration, underscored the workshop’s significance in highlighting the Red Sea’s petroleum potential to attract fresh capital. Egypt previously held a bid round for the same region’s blocks 1, 3, and 4 back in 2019, making this the second major push to unlock the basin’s hydrocarbon promise.
Source: egyptoil-gas.com