As part of the Ministry of Petroleum and Mineral Resources – Egypt \u2019 plan and strategy to attract new exploration investments, and to support current efforts to increase production, the Egyptian Natural Gas Holding Company (EGAS) , has awarded 6 new blocks to a number of international companies. This contributes to maximizing investments in exploration, with an expected investments of approximately USD\u202f245 million and the drilling of at least 13 new exploratory wells during the exploration period.
\ud83d\udd39These include 4 new offshore blocks in the Mediterranean\u2014offered within the 2024 international bid round via the Egypt Upstream Gateway (EUG) \u2014as well as 2 onshore blocks in the Nile Delta and North Sinai.
\ud83d\udd39These blocks have been awarded to the following companies:
\u2022 North Samian Offshore Block & Northwest Atoll Offshore Block: awarded to the Chevron Egypt & BG Group (Shell) consortium, with plans to drill 2 exploratory wells in each block.
\u2022 North Ras El Tin Offshore Block: awarded to IEOC Production Eni with plans to drill 3 exploratory wells.
\u2022 East Alexandria Offshore Block: awarded to Cheiron Petroleum Corporation Egypt, with plans to drill 3 exploratory wells.
\u2022 North Tanta Onshore Block (Nile Delta): awarded to IPR Energy Group which plans to drill 2 exploratory wells.
\u2022 ElFayrouz Onshore Block (North Sinai): awarded to Perenco which plans a 3D seismic survey and 1 exploratory well.
Additionally, more investment opportunities are currently available on the Egypt Upstream Gateway (EUG) , including several undeveloped offshore discoveries in the Mediterranean. The bidding for these areas is scheduled to close on 2 July 2025, and the results will be announced promptly after bid submission closes.
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