Egypt Invites Bids For 13 Oil And Gas Blocks In New Licensing Round

Egypt has launched a new licensing round, inviting international companies to bid on 13 offshore and onshore blocks.

The bid round, known as the Open Blocks Licensing Program (OBLP), aims to boost domestic oil and gas production and attract investments in the country’s upstream industry.

Companies can bid on six new exploration areas and seven undeveloped discoveries, including three offshore exploration blocks in the Gulf of Suez and three onshore exploration areas in Egypt’s Western Desert.

The bidding process will close on May 4, 2025.

This move is part of Egypt’s strategy to increase domestic oil and gas production, following recent discoveries in the Mediterranean.

The country has become a major focus of exploration since the 2010s, with Italy’s Eni discovering the massive Zohr gas field offshore Egypt.

Foreign firms, including BP and Carlyle Group, have expressed interest in investing in Egypt’s oil and gas industry.

BP recently announced the start of production from the second development phase of the Raven gas field, while Carlyle Group plans to make significant investments in the country’s energy sector.

Source: https://energynewsafrica.com