Egypt's Ministry of Petroleum and Mineral Resources has announced fresh investment opportunities aimed at enhancing exploration, production, and sustainability in the oil and gas sector. The ministry is offering access to seven undeveloped fields in the Mediterranean and six exploration areas in the Gulf of Suez and the Western Desert, reinforcing its commitment to increasing crude oil and gas output. These opportunities will be available through the Egypt Upstream Gateway (EUG), with the bidding process open for two months, closing on 4 May 2025. The new announcement follows the recent closure of bidding for 13 exploration areas and mature fields, which received multiple investment offers. These offers, currently under evaluation, are expected to bring in over $700m in investments, a figure that could double if commercial discoveries are made. To accelerate gas production in the Mediterranean, the ministry has grouped the seven undeveloped fields into two clusters. The first group includes the Aten, Merit, and Rahmat fields, while the second group comprises the Notus, Salamat, Satis, and Salmon fields. These fields offer significant investment potential, supporting Egypt's efforts to meet rising energy demands. For the first time, the ministry is utilizing a cluster-based approach via the Egypt Upstream Gateway's open investment map. This strategy aims to maximize investment returns, reduce production costs, and streamline development and production processes. Beyond the Mediterranean, six new exploration areas are being launched in the Western Desert and the Gulf of Suez. In the Western Desert, the available areas include North East Bir El-Nos, South Fayoum, and Wadi Sannur, while the Gulf of Suez offerings include East Geisum, East Gebel El-Zeit, and East Shadwan. These locations present promising prospects for oil and gas exploration, further expanding Egypt's energy sector and driving economic growth. EUG serves as a key platform for investors, providing comprehensive geological and geophysical data, advanced analytical tools, and transparent access to investment opportunities. By leveraging this digital platform, the ministry aims to foster a competitive and investor-friendly environment, ensuring well-informed decision-making and sustained growth in the country's oil and gas industry.
