Egypt is ramping up efforts to attract foreign investment in its oil and gas sector with a new licensing round offering 13 exploration and production opportunities.
The government aims to boost hydrocarbon development and strengthen Egypt’s position as a key energy player in North Africa amid rising regional demand.Egypt’s new licensing round offers exploration blocks in key petroleum-rich areas like the Mediterranean and Nile Delta, aiming to boost oil and gas reserves. Open to local and global firms, the bid promotes competition and investment to enhance energy security.
Led by Egypt’s National Petroleum Company and EGAS, the initiative supports domestic gas production, export expansion, and Egypt’s goal of becoming a regional energy hub, attracting interest from international operators, especially in deepwater exploration.Egypt’s oil and gas sector is growing, with EGAS completing seven exploratory wells and launching five projects in FY 2024/25. bp, Eni, and ExxonMobil are advancing operations, while EGAS plans 17 more wells and $434 million in investments.
Egypt is also expanding exploration through a global bidding process for 12 gas blocks, with results due by year-end. With $1.2 billion planned for FY 2025/26, including seven projects and 24 wells, Egypt aims to solidify its role as a regional energy leader.
