Sources at the Egyptian General Petroleum Corporation (EGPC) have informed Egypt Oil & Gas that a new bid round will be announced at the end of December 2015.

The bid round will offer new areas in the Western Desert for exploration. The move comes shortly after Tarek El Molla’s recent statement in a press conference promising several new bid rounds by state companies EGAS, EGPC, and Ganope, to enhance investment in Egypt and boost production levels.

The bid round, which is expected to be announced specifically on Thursday the 31st of December, is considered a good move given the poor interest in the last bid round issued by EGAS for the Mediterranean area.