Egypt has launched a new international bidding round for oil and gas exploration in the Red Sea. The announcement was made on November 4, 2025, by Minister of Petroleum and Mineral Resources Karim Badawy during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025). The tender covers the offshore blocks RS-1, RS-2, RS-3, and RS-4.
The bidding process, managed by the state-owned Ganoub El Wadi Petroleum Holding Company (GANOPE) through the Egypt Upstream Gateway (EUG) digital platform, will remain open until May 3, 2026. According to the Egyptian authorities, the round is based on a production-sharing model designed to make investment terms more attractive to foreign companies.
Data from the Middle East Economic Survey (MEES) show that Egypt’s crude oil output reached about 537,000 barrels per day in 2024. The country aims to stabilize production at around 600,000 barrels per day, as highlighted during the EGYPES 2024 professional exhibition. In natural gas, MEES reported a production level of 49.37 billion m³ in 2024, confirming the fuel’s central role in Egypt’s energy mix.
“The Red Sea region is one of the most promising new oil areas, rich in opportunities for discoveries that could boost production capacity,” said Minister Karim Badawy.
While the bid submission deadline is set for May 2026, the signing of contracts related to this Red Sea exploration round is scheduled for completion by 2027, according to the Ministry of Petroleum’s timeline.