Egypt initiates worldwide oil and gas exploration
Egypt has announced the launch of a global bidding round for oil and gas exploration, covering 14 new areas to attract investments in support of local production and its increase according to the five-year plan. The announced areas include 8 regions in the Mediterranean Sea, the Nile Delta, and North Sinai, with the submission deadline set for December 11, 2026. Additionally, there are 6 areas in the Gulf of Suez, Sinai, and the Western Desert, with applications closing on November 11, 2026. This announcement was made during a meeting between Minister of Petroleum Kareem Badawi and international companies, where he explained that the bidding focuses on investment opportunities related to infrastructure and facilitating the quick connection of new discoveries to production. The ministry also announced the operation of the Malilah gas plant in September 2026, with an output capacity of up to 100 million cubic feet per day, as part of the plan to increase production and reduce reliance on imports. Moreover, exploration and production activities are expected to increase by 20% in the coming year.
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