El Molla Announces New Petroleum Bid Round in 23 Areas via EUG

El Molla Announces New Petroleum Bid Round in 23 Areas via EUG

Minister of Petroleum and Mineral Resources Tarek El Molla has announced a new international petroleum bid round by the Egyptian General Petroleum Corporation (EGPC) and South Valley Egyptian Petroleum Holding Company (GANOPE) via the Egyptian Upstream Gateway (EUG) platform. 

The bid round aims to boost exploration and production in new 23 areas; 10 for EGPC and 13 for GANOPE including the Western Desert, Eastern Desert, Gulf of Suez, and Red Sea. The offers will be received until Sunday, 25 February 2024. 

The Ministry of Petroleum and Mineral Resources said that the geological and geophysical data of these areas are available on the EUG in addition to the technical and regional studies of all areas and technical support. 

El Molla elaborated this bid round is prepared by using the latest digital tools. He affirmed that the proposed areas comprise diverse sectors including new positions in the Red Sea which witnessed a developed seismic survey that resulted in valuable geological data. 

The minister said that this new bid round aims to help Egypt continue its track of increasing production of petroleum resources and increase its investments.

It’s worth mentioning that, the Ministry of  Petroleum and Mineral Resources intends to launch Gas Bid Rounds in March and Oil Bid Rounds in September/October every year. Interested Companies can easily review and instantly purchase principal and optional datasets, which are available online through Portal: https://lnkd.in/dYN6bKwe. 


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