Egypt launches international tender for oil, gas exploration in 24 areas

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Thu, 18 Feb 2021 - 10:46 GMT

Oil exploration - FILE

Oil exploration - FILE

CAIRO - 18 February 2021: Egyptian Minister of Petroleum Tarek el Molla launched Thursday the first international tender for petroleum and gas exploration for 2021 in 24 areas in Suez Gulf, western desert and East and West Mediterranean.
 
The tender was floated through Egypt Upstream Gateway; the first digital platform that provides geological data for search, drilling and production activities in Egypt. It aims at promoting international companies' investments in oil and gas domains, and consequently increasing oil and gas production.
 
In statements on Thursday, the minister praised "efforts of all people who made it possible that the gateway sees daylight 12 months after signing a memo of understanding between the ministry and Schlumberger company."
 
"The gateway is a landmark on the road of digital transformation and an important step by Egypt to address international companies operating in the oil and gas excavation domains as it gives them access to Egypt's subsurface," he stated.
 
Thusfar, a total of 10 international companies, including: Eni, Apache and Wintershall DEA, have signed membership agreements to join the gateway.
 
Egypt Upstream Gateway provides digital access to over 100 years' worth of accumulated national onshore and offshore seismic, non-seismic, well-log, production, and additional subsurface data under a single platform.
 
This data, which empowers de-risked decisions through the ability to explore multiple basins and evergreen data, can be accessed virtually from anywhere using the platform’s online portal.

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