The Ministry of Petroleum and Mineral Resources has announced that the Egyptian Natural Gas Holding Company (EGAS) has launched a new international 2024 bid round for the exploration and exploitation of natural gas and crude oil in 12 blocks in the Mediterranean and Nile Delta.
Egypt’s petroleum ministry on Tuesday announced an international tender seeking bids for natural gas and crude oil exploration in the Mediterranean Sea and the Nile delta, 10 offshore blocks and two onshore blocks.
The country is the second-largest producer of natural gas in the continent following Algeria, and the fourth-largest holder of natural gas reserves.
Minister of Petroleum and Mineral Resources Karim Badawi has met with Dimitrios Copelouzos, Chairman of the Greek Copelouzos Group, and Ioannis Karydas, CEO of the Group for Renewable Energy, Energy Storage and Interconnection.
Egypt’s Ministry of Petroleum and Mineral Resources has signed investment deals with Shell Egypt, Petronus Gas and Cheiron Energy totalling $340m.
Egypt is planning to drill 110 exploratory wells for gas and oil, with a total investment of 1.2 billion U.S. dollars during the current fiscal year 2024/2025, Egyptian Ministry of Petroleum and Mineral Resources quoted Minister Karim Badawi as saying in a statement on Sunday.
QatarEnergy has signed a farm-in agreement with ExxonMobil to acquire a 40% participating interest in two exploration blocks offshore Egypt.
Europa Oil & Gas (Holdings) PLC (AIM:EOG) has strengthened its management team, hiring Dr Eleanor Rowley as its new independent non-executive director
Egypt’s oil and gas sector is poised for growth, according to statements made by Minister of Petroleum and Mineral Resources Tarek El-Molla. The Minister highlighted the country’s promising potential and significant reserves, which can be leveraged to attract further investment and boost production.
UK oil and gas major BP has plans to make a $1.5bn investment in Egypt aimed at development and exploration activities.
The move was disclosed following a meeting between Egyptian President Abdel-Fattah al-Sisi and bp CEO Murray Auchincloss during the Egypt Petroleum Show, EGYPS 2024, in Cairo.