Egypt will soon launch a new international bid round for oil and gas exploration in the Red Sea, Minister of Petroleum and Mineral Resources Karim Badawy said on Tuesday, as the government seeks to expand upstream activity and attract foreign investment. The tender, to be offered through the Egypt Upstream Gateway (EUG), will include four exploration blocks and forms part of Cairo's push to boost exploration and production in frontier regions, Badawy said during meetings with international energy executives on the sidelines of the World Energies Summit in London. The minister reviewed preparations for promoting the new bid round and progress on Egypt's regional seismic survey project in the Eastern Mediterranean, which aims to map untapped hydrocarbon potential. In talks with Andrea Lovatini, Director of Exploration Data and Geosolutions at SLB, Badawy discussed the company's ongoing cooperation with Egypt's petroleum sector, highlighting the EUG platform as a model for streamlining investment and exploration opportunities. Both sides also discussed advancing the Red Sea seismic survey and expanding collaboration to integrate digital and exploration technologies that could support new oil and gas discoveries, the ministry said. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
