Egypt Seeks Fresh Oil Investment with 14 New Blocks on Offer
Egypt is offering 14 new oil and gas blocks to foreign and local companies in an effort to reverse a decline in its hydrocarbon resources.
The country's petroleum and mineral resources minister, Karim Badawi, announced the move on Wednesday as part of the 2026 international bid round for oil and gas exploration.
The round includes eight blocks belonging to the Egyptian Natural Gas Holding Company (EGAS) in the Mediterranean Sea, the Nile Delta, and North Sinai, with an application deadline of December 14, 2026. The remaining six blocks belong to the Egyptian General Petroleum Corporation (EGPC) in the Gulf of Suez, Sinai, and the Western Desert, with a deadline of November 11.
The blocks are offered under a production-sharing system through Egypt's upstream gateway (EUG), which will help reduce development costs and speed up integration into production. Badawi highlighted that many of the blocks are located near existing fields and infrastructure, including pipeline networks, processing plants, and export facilities.