State-owned energy companies, the Egyptian General Petroleum Corp (EGPC) and the South Valley Egyptian Petroleum Holding Co. (Ganope), have launched a new licensing round via the Egypt Upstream Gateway digital platform to boost the country’s energy reserves and production capacity.
The licensing round – which closes on February 25, 2024 – offers 23 blocks for oil and gas exploration in the Western Desert, Eastern Desert, Gulf of Suez and Red Sea.
EGPC has five blocks available for exploration in the Western Desert, two blocks in the Eastern Desert and three blocks in the Gulf of Suez.
Ganope is offering five blocks in the Western Desert, four blocks in the Gulf of Suez and four blocks in the Red Sea as part of the licensing round.
Tenders to be awarded will have a maximum exploration period of seven years.