The state-owned Egyptian Natural Gas Holding company (EGAS) has launched a new tender for exploration of natural gas and crude oil in 12 concessions in the Mediterranean Sea off Egypt and in the Nile Delta. The tender includes 10 offshore and two onshore concessions.
The launch of this tender comes in line with the plan announced by the Egyptian government in 2023 to drill 45 natural exploratory gas wells in the Mediterranean and the Nile Delta with $1.9 billion in investments until mid-2025.
In September 2023, Egypt had awarded four oil and gas explorations areas, including three in the Mediterranean Sea with two blocks awarded to Italy’s Eni and one block to a consortium of Eni, BP and Qatar Energy, and one in the Nile Delta awarded to the Russian state-owned oil company Zarubezhneft.
Egypt is the second largest gas-producing country in Africa after Algeria, with an output of 68 bcm in 2022. The country’s output has increased by nearly 80% since 2015 after the Zohr gas field entered into production.
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