Egypt Launches New Oil and Gas Licensing Round with 12 Blocks Up for Grabs
Egypt has launched a new international licensing round for oil and gas exploration, offering 12 blocks across the Nile Delta and Mediterranean Sea. The bid round is administered by the Egyptian Natural Gas Holding Company (EGAS) and includes six offshore blocks in the Mediterranean and six onshore blocks in the Nile Delta.
The deadline for companies to submit offers was April 30, 2023. According to Minister of Petroleum and Mineral Resources Tarek El Molla, the licensing round is part of Egypt's strategy to strengthen exploration activity, increase hydrocarbon discoveries, and attract international energy companies.
The initiative supports a long-term plan launched in 2016 to expand investment in Egypt's oil and gas industry. The government has been pursuing reforms aimed at improving the investment climate and accelerating exploration in both mature and frontier areas.
The latest round is the third to be conducted through the Egypt Upstream Gateway, a digital platform introduced in 2021 to modernize the country's licensing process. The portal provides investors with online access to geological, geophysical, and technical data, enabling faster evaluation of exploration opportunities and improving transparency in the bidding process.
Egypt has emerged as a major regional gas hub following significant offshore discoveries in the Mediterranean, including the giant Zohr gas field. The country has invested heavily in natural gas infrastructure, liquefied natural gas (LNG) facilities, and export capacity, positioning itself as a key supplier to international markets.
The licensing round comes as Egypt records strong growth in natural gas exports. LNG exports rose to approximately 8 million tonnes in 2022, up from 7 million tonnes in 2021. Higher global energy prices also boosted export earnings, with natural gas revenues climbing to about $8.4 billion in 2022, compared with roughly $3.5 billion a year earlier.
Industry analysts say continued exploration success in the Mediterranean and Nile Delta will be critical for sustaining Egypt's export ambitions, meeting domestic energy demand, and reinforcing its position as one of Africa's leading natural gas producers.