Egypt Announces New Oil and Gas Licensing Round to Attract Global Investments
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Hashim Sheikh
- . March 5, 2025
- . Update: March 5, 2025 4:29 pm
The Ministry of Petroleum and Mineral Resources in Egypt commenced a bold new licensing program to welcome foreign energy firms who will explore and develop key blocks throughout its land and water regions. Through the Open Blocks Licensing Program Egypt achieves its target by offering exploration opportunities on seven Mediterranean Sea fields along with three offshore blocks from both Suez and Western Desert areas.
During the period from March 2 to May 4 of 2025 Egypt makes its licensing blocks available on the EUG bid website for interested parties. The initiative aims to attract new investors who would develop more petroleum sources while growing production levels and building better industry long-term prospects. The new licensing round continues the efforts started in August 2024 by offering twelve blocks spread across the Mediterranean and Nile Delta regions. The Petroleum Minister’s party created this plan based on his July 2024 statement to develop 586 oil and gas wells before 2030.
After several milestones, BP recently activated the second phase of the Raven field development from its West Nile Delta concession. Egypt continues its determined push to draw foreign investments into its energy sector while pushing to discover more hydrocarbons in an international market setting.