Egypt Launches Ambitious Gas Exploration Drive with 12 New Blocks
Egypt has unveiled a strategic gas exploration initiative offering 12 blocks to international energy companies as part of a broader effort to boost domestic production and attract foreign investment. The Ministry of Petroleum and Mineral Resources announced the new opportunities through its international bidding platform, featuring five offshore blocks and seven onshore sites.
The 12 blocks form part of a comprehensive licensing round comprising 34 oil and gas opportunities, managed by the state-owned Egyptian Natural Gas Holding Company (EGAS). Most blocks are strategically located in the Mediterranean Sea and northern Egypt, regions recognized for their high exploration potential.
Despite holding an estimated 2.2 trillion cubic meters of proven natural gas reserves, Egypt continues importing gas to meet growing domestic demand. The new licensing round reflects the government’s commitment to ramping up local production and strengthening energy security while positioning Egypt as a key regional energy player.
Source: angolanminingoilandgas.com
