The Egyptian Natural Gas Holding Company (EGAS) has awarded six new exploration blocks to international companies, in line with the Ministry of Petroleum and Mineral Resources’ strategy to attract new investments and boost production.
These awards are expected to generate about $245 million in investments and lead to the drilling of at least 13 new exploratory wells during the exploration period.
The awarded blocks include four offshore blocks in the Mediterranean, offered through the 2024 international bid round via the Egypt Upstream Gateway (EUG), and two onshore blocks in the Nile Delta and North Sinai.
The awarded blocks and companies are:
North Samian Offshore Block & Northwest Atoll Offshore Block: Awarded to the Chevron Egypt & BG (Shell) consortium, with plans for two exploratory wells in each block.
North Ras El Tin Offshore Block: Awarded to IEOC Production (Eni), with plans for three exploratory wells.
East Alexandria Offshore Block: Awarded to Cheiron Egypt, with plans for three exploratory wells.
North Tanta Onshore Block (Nile Delta): Awarded to IPR, which plans to drill two exploratory wells.
El Fayrouz Onshore Block (North Sinai): Awarded to Perenco, which plans a 3D seismic survey and one exploratory well.
Additional investment opportunities, including several undeveloped offshore discoveries in the Mediterranean, are currently available on the Egypt Upstream Gateway (EUG). The bidding for these areas is scheduled to close on July 2, 2025, with results to be announced promptly thereafter.
