Egypt has opened a new international licensing round for oil and gas exploration, offering 12 exploration blocks across the Nile Delta and Mediterranean Sea as the country seeks to attract fresh investment into its upstream energy sector and build on recent gains in natural gas production and exports.
The bid round, administered by the Egyptian Natural Gas Holding Company (EGAS), includes six offshore blocks in the Mediterranean and six onshore blocks in the Nile Delta. Companies interested in participating were invited to submit offers by April 30, 2023. Minister of Petroleum and Mineral Resources Tarek El Molla said the licensing round forms part of Egypt’s broader strategy to strengthen exploration activity, increase hydrocarbon discoveries and attract international energy companies to the country.
According to El Molla, the initiative supports a long-term plan launched in 2016 to expand investment in Egypt’s oil and gas industry, encourage new market entrants and stimulate additional spending by companies already operating in the country. The government has been pursuing reforms aimed at improving the investment climate and accelerating exploration in both mature and frontier areas.
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Egypt Upstream Gateway
The latest round is the third to be conducted through the Egypt Upstream Gateway, a digital platform introduced in 2021 to modernize the country’s licensing process. The portal provides investors with online access to geological, geophysical and technical data, enabling faster evaluation of exploration opportunities and improving transparency in the bidding process.
Egypt has emerged as a major regional gas hub following significant offshore discoveries in the Mediterranean, including the giant Zohr gas field. The country has invested heavily in natural gas infrastructure, liquefied natural gas (LNG) facilities and export capacity, positioning itself as a key supplier to international markets.
The licensing round comes as Egypt records strong growth in natural gas exports. Data from the Ministry of Petroleum and Mineral Resources showed that LNG exports rose to approximately 8 million tonnes in 2022, up from 7 million tonnes in 2021. Higher global energy prices also boosted export earnings, with natural gas revenues climbing to about $8.4 billion in 2022, compared with roughly $3.5 billion a year earlier. Industry analysts say continued exploration success in the Mediterranean and Nile Delta will be critical for sustaining Egypt’s export ambitions, meeting domestic energy demand and reinforcing its position as one of Africa’s leading natural gas producers.
