Posted: 28.09.2023 17:17:00

Egypt holding tender for development of oil fields in 23 zones

The Ministry of Oil and Mineral Resources of Egypt has announced a tender for the exploration and development of oil fields in 23 new zones in the country, applications may be made until January 25th, 2024, TASS reports


According to the Minister of Petroleum and Mineral Resources of Egypt, Tarek El Molla, the tender includes ten zones in the Western Desert, two – in the Eastern Desert, seven – in the Suez Gulf region, and four – in the Red Sea province. Applications for participation in the tender could be submitted until January 25th, 2024.

Tarek El Molla stressed that the new proposals include regions in all oil areas of Egypt. He explained that, through such auctions, the country seeks to increase its oil production and attract investments for further development of the industry.

The official promised to provide all forms of support to companies that win the tender.