Egypt’s Ministry of Petroleum and Mineral Resources has unveiled new investment opportunities aimed at enhancing the country’s oil and gas exploration, production, and sustainability. The initiative offers access to seven undeveloped fields in the Mediterranean and six exploration areas in the Gulf of Suez and the Western Desert, reflecting Egypt’s dedication to increasing crude oil and gas output.
These opportunities will be made available through the Egypt Upstream Gateway (EUG), with the bidding process opening for two months and closing on May 4, 2025.
New Investment Prospects for Expanding Energy Production
This announcement follows the recent conclusion of the bidding process for 13 exploration areas and mature fields, which attracted multiple investment offers. These proposals are currently being evaluated, and they are expected to secure over $700 million in investments, with the potential for that figure to double if commercial discoveries are made.
In an effort to boost gas production in the Mediterranean, the ministry has organized the seven undeveloped fields into two clusters. The first cluster includes the Aten, Merit, and Rahmat fields, while the second cluster is made up of the Notus, Salamat, Satis, and Salmon fields. These fields are considered high-potential investment opportunities, which will play a key role in helping Egypt meet its growing energy demands.
This is the first time the ministry has implemented a cluster-based approach via the EUG’s open investment map. The strategy aims to optimize investment returns, reduce production costs, and streamline development and production processes.
New Exploration Areas to Boost Oil and Gas Output
In addition to the Mediterranean, Egypt is also launching six new exploration areas in the Western Desert and Gulf of Suez. In the Western Desert, the available areas are 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 areas present promising prospects for further oil and gas exploration, expanding Egypt’s energy sector and contributing to the country’s economic growth.
EUG: A Key Platform for Investment Transparency
The Egypt Upstream Gateway serves as a vital platform for investors, offering comprehensive geological and geophysical data, advanced analytical tools, and transparent access to investment opportunities. By utilizing this digital platform, the ministry aims to cultivate a competitive, investor-friendly environment that promotes well-informed decision-making, ensuring sustained growth in Egypt’s oil and gas industry.