The Egyptian Ministry of Petroleum and Mineral Resources is in the process of launching new international bids for the exploration and production (E&P) of natural gas in the Mediterranean Sea, Minister of Petroleum and Mineral Resources, Tarek El Molla, has announced, Egypt Oil & Gas reports.

The ministry will also open bids for oil and gas E&P in the Red Sea region before the end of 2018 after seismic surveys have been completed.

El Molla said that the offshore E&P bids are part of the ministry’s strategy to expand activities in unexplored areas which have promising oil and gas potential.

The minister’s comments came during his speech during an event organized by the American Chamber of Commerce in Egypt.