Arab Finance: The Ministry has announced the launch of new investment opportunities for 7 of the fields that are not in the Mediterranean and 6 exploratory areas in the Gulf of Suez and Western Sahara through the Egypt Gate for Exploration and Production (Eug), as part of its continuous efforts to increase production from crude oil and gas, according to Statement Ministry of Petroleum.
Where the increase will be opened for a period of two months, and the closing date will be 4 May 2025, and offers are being evaluated with expected investments exceeding 700 million dollars and double in the event of a commercial statement.
The Ministry of Petroleum seeks to enhance production of natural gas in the Mediterranean by offering 7 unintegrated discoveries, and discoveries have been divided into two groups to ensure acceleration of production and maximization of economic returns. The first group includes “Ane” fields, “Merrit To increase gas production to keep pace with the increasing demand.
This is the first time that a number of discoveries that are not operating in the “Clusters” group system have been launched through the open investment map in the Egypt Gate for Exploration and Production, and it is an innovative mechanism that aims to improve the return on investment and reduce production costs, and to facilitate and accelerate the development and production process
In addition to the opportunities offered in the Mediterranean, the Ministry will offer 6 exploratory areas in the Western Sahara and the Gulf of Suez, and they represent promising opportunities in the field of exploration and include 3 regions in the Western Sahara: “Northeast of Bir Al Nass”, “South of Fayoum”, “Wadi Sanour”, and 3 regions in the Gulf of Suez: “East Jisum”, “East Jabal Al -Zait” and “East Shadwan”.
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