Egypt’s Ministry of Petroleum and Mineral Resources has awarded eight natural gas licenses to Eni, BP, Apex International, Energy Egypt, United Energy, Enap Sipetrol, and Ina respectively in a bid to expand natural gas exploration and production in the country. The licenses are expected to attract a minimum of $250 million with 33 wells planned to be drilled in key basins across the country.
Following several sizable gas discoveries throughout 2020/2021, the country held its first-ever oil and gas exploration bid in 2021, with 24 blocks on offer. Held by the state-owned Egyptian Natural Gas Holding Company, the auction took place through a new digital portal, introduced in February 2020, which features a “database of information on all stages of drilling, exploration, and production of oil and gas projects.”
The website has and continues to be instrumental for the country’s energy sector digital transformation, while at the same time ensuring regional and global stakeholders are provided with up-to-date information on oil and gas exploration opportunities.
As the country moves to expand the share of natural gas in its energy mix, establishing a competitive export market and ensuring self-sufficiency in gas, the licenses will enable Egypt to meet its energy sector targets.
