Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla (Photo: Al-Ahram)
The international tender is set to be launched by the Egyptian Natural Gas Holding Company (EGAS) with the aim of attracting new foreign companies to operate in Egypt, El-Molla said.
This is part of a strategy to intensify exploration activities in the Mediterranean and increase production of natural gas, which is an important component of the global energy mix, the minister noted.
This is the third tender to be put forward through Egypt’s digital portal for exploration and production that was launched early 2021, El-Molla explained.
The portal gives quick access to basic information about tenders, concessions and technicalities, the minister added.
On Thursday, President Abdel-Fattah El-Sisi gave his directives to the government to intensify exploration of new oil and natural gas areas to achieve optimal economic exploitation of the country's resources and to maximise the added reserves of natural gas to meet both the needs of local markets and exports.
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