Egypt begins global oil and gas auction
Egypt announced its plan to launch a global bidding round in 2026 to explore for oil and gas in 14 new areas, aiming to attract investments and boost domestic production to achieve the goals of the five-year plan. The auction includes 8 areas managed by the Egyptian Natural Gas Holding Company and 6 areas overseen by the Egyptian General Petroleum Corporation. Applications will be accepted through the electronic portal until the deadlines in November and December 2026. The areas offer diverse investment opportunities and are located near existing infrastructure, facilitating exploration and development activities, reducing costs, and expecting increased investments from international companies and opening new job opportunities in Egypt.
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