These awards are expected to attract approximately $245 million in new investments and lead to the drilling of at least 13 exploratory wells during the respective exploration periods.
The Egyptian Natural Gas Holding Company (EGAS) has awarded six new exploration blocks to several international companies, in a move aimed at boosting investments in oil and gas exploration, according to a statement by the Ministry of Petroleum and Mineral Resources.
These awards are expected to attract approximately $245 million in new investments and lead to the drilling of at least 13 exploratory wells during the respective exploration periods.
The awarded areas include four offshore blocks in the Mediterranean Sea—offered as part of Egypt’s 2024 global bid round via the Egypt Upstream Gateway (EUG)—alongside two onshore blocks in the Nile Delta and North Sinai.
The awarded blocks and companies are as follows:
· North Sidi Barrani Offshore & North West Atoll Offshore Blocks
Awarded to a consortium of Chevron Egypt and BG (Shell). Each block is expected to see the drilling of two exploratory wells.
· North Ras El-Tin Offshore Block
Awarded to IEOC Production (Eni), with plans to drill three exploratory wells.
· East Alexandria Offshore Block
Awarded to Cheiron Egypt, which will also drill three exploratory wells.
· North Tanta Onshore Block (Nile Delta)
Awarded to IPR, which is expected to drill two exploratory wells.
· Al-Fayrouz Onshore Block (North Sinai)
Awarded to Brenco, which will conduct 3D seismic surveys and drill one exploratory well.
As part of Egypt’s continued efforts to expand investment opportunities in the energy sector, a number of additional prospects are currently available through the Egypt Upstream Gateway (EUG).
These include undeveloped offshore fields in the Mediterranean, with bidding set to close on July 2, 2025. Results will be announced once the bid round concludes and offers are reviewed.
In a related update, a government official told Al Arabiya that the resumption of natural gas supplies to factories has been postponed for another week, with gradual supply expected to resume before the end of June.
The delay follows a halt in Israeli gas imports, with current Israeli gas flows to Egypt dropping to 40–50 million cubic feet per day—down from 90 million last week and far below the 650 million cubic feet per day anticipated earlier this week.
