CAIRO - 25 September 2023: The Ministry of Petroleum and Mineral Resources has announced a new global bidding round for both the Egyptian General Petroleum Corporation (EGPC) and the South Valley Egyptian Holding Company for Petroleum (Ganope). This bidding round includes 23 new areas, with 10 allocated to EGPC and 13 to Ganope."
These areas are distributed across 10 regions in the Western Desert, two regions in the Eastern Desert, seven regions in the Gulf of Suez, and four regions in the Red Sea.
The bidding process is being conducted through Egypt's digital portal for exploration and production.
Minister of Petroleum and Mineral Resources, Tarek El-Molla, stated that the new bid includes new areas for research and exploration, and the latest digital tools and methods were used in its preparation and presentation through Egypt's digital portal for exploration and production, which provides a highly advanced marketing window for available petroleum opportunities.
The minister emphasized that the new bid takes into account the diversity of sectors offered in all petroleum regions. It introduces a new offering in the Red Sea areas, which witnessed advanced seismic surveys resulting in valuable geological data that have been processed according to advanced global standards.
El-Molla added that with this new bid, Egypt continues its efforts to increase its production of petroleum resources and boost the investments planned for this activity. This enriches the production process and geological databases for petroleum production regions.
The Ministry is committed to providing all forms of support to the winning companies in these bids, whether they are current partners in Egypt, who are always keen to increase their investments and expand their areas of operation, or new partners aiming to invest in the Egyptian market with promising opportunities, established petroleum possibilities, real success stories, and a stable security and political environment, along with advanced infrastructure.