Latest Official Data

The latest official data showed that the Egyptian oil sector was able to discover 472 new oil fields, submit 10 international applications and provide international companies with 40 oil and gas exploration sites within 9 years.

Discoveries in Various Regions

Egypt’s Ministry of Petroleum and Mineral Resources said it had discovered 334 new crude oil and 138 gas fields in the Western and Eastern Desert, the Mediterranean, the Sinai, the Delta and the Gulf of Suez region.

International Applications and Exploration Sites

During this period, the ministry was also able to submit 12 international oil and gas exploration applications, in addition to the 5 international applications that were posted on the Egypt Exploration and Production digital portal.

International Agreements and Investments

According to the results of international tenders, 40 sites for oil and gas exploration were provided to international companies with a minimum investment of about $2.3 billion, and an agreement was signed in the amount of $298 million.

Ongoing Bids and Agreements

Bids are currently being accepted for two proposals currently being offered for the Nile Delta and Mediterranean regions, as well as a proposal for obsolete fields in the Gulf of Suez and the Eastern Desert.

Significant Agreements and Investments

Over the past nine years, 119 new agreements have been signed with international oil and gas exploration companies, with a minimum investment of about $22.3 billion and subscription grants of $1.3 billion to drill at least 449 exploration wells.

Expansion into Red Sea and Western Mediterranean Regions

The Red Sea regions are also on the map of global oil and gas investment for the first time following an ambitious project to that end and the demarcation of the maritime borders with the Kingdom of Saudi Arabia so that the Egyptian oil sector can make a global bid and transfer 3 sectors to the largest international companies, which are currently implementing a technical program using the latest technologies. Global technologies that meet the challenges of the Red Sea region.

Also, the western Mediterranean region was placed on the map of global investment in natural gas exploration after the implementation of the seismic survey project, which helped attract international companies such as ExxonMobil, Chevron, Shell, Total, and BP. And the signing of 7 contracts with these companies to search for gas in this region.

Development of New Oil Fields

The data showed that 126 contracts had been signed to develop new oil fields in the Mediterranean, the western and eastern deserts and the Gulf of Suez.