Two exploration contracts in the Mediterranean were awarded to the Italian energy company Eni, and one contract was awarded to a consortium of Enit, British Petroleum (BP), and Qatar Energy.

Russian state-owned energy company Zarubezhneft was awarded a contract in the Nile Delta.

The four contracts were part of a tender closed in July 2023 on Egypt Upstream Gateway (EUG), which was launched in 2020.

The platform promotes Egypt’s oil and gas industry by providing easy digital access to the country's geological and geophysical information, with advanced data visualization.

Yesterday, Egypt’s state-owned oil companies launched an international tender for exploration contracts in 23 new areas in the Western Desert, Eastern Desert, the Gulf of Suez, and the Red Sea.

By 2025, Egypt aims to dig 35 new exploratory natural gas wells in the Mediterranean and Nile Delta at a cost of $1.8 billion.

The country has revised its projected total investments in oil and natural gas to $9 billion (EGP 277 billion) during FY2023/2024.

Over the past five years, Egypt's petroleum sector, in partnership with international companies, dug 576 new exploratory wells and made 289 new gas and petroleum discoveries.