The Egyptian Ministry of Petroleum and Mineral Resources aims to launch three exploration and production (E&P) bid rounds in 2019 in order to boost exploration activities in different concessions and increase local oil and gas output.
The Egyptian Natural Gas Holding Company (EGAS) will launch an E&P bid round to search for natural gas in the West Mediterranean, Minister of Petroleum, Tarek El Molla, told Al Borsa News.
Meanwhile, the Egyptian General Petroleum Corporation (EGPC) will launch an E&P bid round to explore the Western Desert, Gulf of Suez, and Eastern Desert, El Molla noted.
The minister pointed out that the first launched bid round will be related to Ganoub El Wadi Petroleum Company (Ganope) and E&P activities in the Red Sea.
Egypt has unexplored areas in different concessions aimed to be launched through the three bid rounds, El Molla highlighted.