Egypt launches major bidding in oil, gas sector
As part of its strategy to bolster exploration and production while advancing sustainability in the energy sector, the ministry offers seven undeveloped fields in the Mediterranean and six exploration concessions in the Gulf of Suez and the Western Desert.
These offerings, accessible through the Egypt Upstream Gateway (EUG), will remain open for bidding until 4 May. EUG is a digital platform that promotes Egypt's oil and gas opportunities by providing easy digital access to advanced data visualization and technology.
This announcement follows the ministry’s recent efforts to attract domestic and international investments. It follows their successful bidding process earlier this year for 13 exploration areas. This bidding is expected to reign in investments exceeding $700 million. This figure could double with more commercial discoveries, positioning Egypt’s energy sector as a magnet for global stakeholders.
Mediterranean discoveries to boost gas production
The ministry’s initiative will divide seven undeveloped fields in the Mediterranean into two clusters to optimize development timelines and economic returns. The first cluster includes the Atin, Merit, and Rahmat fields, while the second features Notts, Salamat, Satis, and Salmon.
This is the first time the clusters' system has been employed to introduce non-developed discoveries, reflecting a strategic shift towards streamlined operations, cost reductions, and expedited production. These fields represent a vital step in meeting the growing domestic and international demand for natural gas.
Natural gas is an essential pillar of Egypt’s energy mix, and the Mediterranean’s untapped reserves catalyze transformative prospects to secure long-term supply and maintain competitiveness in regional and global energy markets. The ministry’s emphasis on these fields reaffirms its pledge to leverage strategic assets to meet growing energy needs while bolstering the national economy.
Exploration opportunities in the Gulf of Suez, Western Desert
Six exploration blocks across the Gulf of Suez and the Western Desert have been made available for bidding, complementing the Mediterranean offerings.
These encompass three promising territories in the Western Desert — Northeast Bier Al-Nas, South Fayoum, and Sanour Valley — and three strategically significant areas in the Gulf of Suez: East Jesum, East Mount Olive, and East Shadwan.
Together, these regions hold immense potential for uncovering untapped oil and gas reserves, reinforcing national energy security and catalyzing economic growth.
By exploring these resource-rich landscapes, the ministry manifests its determined aspiration to attract domestic and international investments. This fortifies Egypt’s energy future and consolidates its stature as a pivotal force in the global energy landscape.
Egypt’s evolving role in energy and logistics
The ministry’s proactive approach aligns with Egypt’s broader energy transformation strategy, anchored by its role as a vital conduit for Arab and African commerce.
Recent years have seen President Abdel-Fattah El-Sisi consistently champion foreign investment, invest in significant efforts to enhance production and accentuate Egypt’s stature as the region’s preeminent market and a nexus of infrastructure modernization.
Earlier in January, the Egyptian Holding Company for Maritime and Land Transport and Abu Dhabi Ports Group signed a memorandum of understanding to develop the logistics area at Alexandria Port.
This agreement underscores Egypt’s ambitions to strengthen its logistics and infrastructure capabilities, leveraging Alexandria’s strategic location on the Mediterranean to integrate with global trade networks.
Egypt’s energy ambitions are further augmented by its hosting of COP27 in Sharm El-Sheikh in late 2022, where sustainable development goals and renewable energy transitions took precedence. Such efforts underscore Egypt’s commitment to balancing fossil fuel production with long-term sustainability and environmental stewardship.
Speaking to an assembly of Spanish business leaders during his official visit to Madrid in February, the president articulated the critical role of strategic partnerships in renewable energy, logistics, and key industrial sectors.
He further delineated the country’s unique position as a production and re-export hub for international markets, with the Suez Canal Economic Zone emerging as a pivotal axis for advancing green energy initiatives and fostering global trade integration.
Digital platforms to foster transparency
The Egypt Upstream Gateway, a digital platform designed to enhance investor confidence and simplify decision-making, is central to the ministry's upcoming strategy.
The platform offers extensive geological, geophysical, and analytical data, reinforcing Egypt’s reputation as an investment-friendly environment. This transparency is critical as Egypt seeks to attract leading global players to participate in its energy expansion plans.
Egypt’s adoption of advanced methodologies, including the clusters' system and comprehensive infrastructure strategy, makes it a regional leader in energy and trade logistics.