Egypt seeks $700 million for oil and gas exploration across 13 sites

Egypt’s Ministry of Petroleum aims to attract $700 million in investments across 13 exploration zones as part of efforts to boost oil and gas production, according to report in Egypt Today. The initiative is supported by the Egypt Upstream Gateway (EUG), a digital platform streamlining agreements.

The Egyptian Natural Gas Holding Company (EGAS) and the Egyptian General Petroleum Corporation (EGPC) are reviewing investment proposals, with results expected in two months. Meanwhile, the General Petroleum Company (GPC) plans to release findings within a month.

Egypt is also expanding bidding rounds, introducing an open acreage system offering companies flexible participation in exploration and redevelopment projects. The Mediterranean region, where firms like Eni, ExxonMobil, Shell, and Chevron operate, will gain four new blocks, increasing Egypt’s natural gas potential by 23%.

The sector continues to attract both global and domestic investors, reinforcing Egypt’s role as a key regional energy player.