The Egypt Upstream Gateway (EUG) team organized a specialized technical workshop on developing the wells of aging oil fields and the best methods to optimize their exploitation. 

According to the Ministry of Petroleum and Mineral Resources, the workshop also shed light on the first global bid that was recently launched for the development of these aging fields in eight regions of the Gulf of Suez and the Eastern Desert. 

Leaders and experts from the oil and gas sector and international companies were active participants in the workshop. The attendees included Samir Raslan, Undersecretary of the Ministry of Petroleum for Agreements and Exploration, Mohamed Radwan, EUG Director, Anastasia Poly, Director of Exploration at SLB, and experts from international companies specialized in developing these fields.

The workshop, which was held under the title “Egypt Announces the First Digital Bidding for the Development of Obsolete Fields”, witnessed a technical presentation of the bid put forward by the Egyptian General Petroleum Corporation (EGPC) through the portal.

During the presentation, the Geological and Production Studies team at EUG delivered a comprehensive presentation of the current investment opportunities for eight fields offered for bidding. Their presentation explained technical data and geological structures as well as seismic data, well information, and production figures. It also shed light on the facilities available for each field and stock, in addition to the technical and commercial conditions for bidding to increase investments in the development of these fields.

The workshop also shed light on the basic EUG pillars represented in storing and preserving recorded exploration and production data. It pointed out how the EUG makes data easily accessible to potential investors while creating added value from data through geological and regional studies.