Discover the Potential of the Mediterranean.

24^th September, 2024

H.E. Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, officially inaugurated an event organized by the Egypt Upstream Gateway (EUG) on September 24th, titled "Discover the Potential of the Mediterranean."

Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, welcomed the companies participating in the workshop, stressing the significance of the workshop in direct communication with companies to review the opportunities and areas offered to marketing them in a distinctive manner that reflects their investment quality, and the opportunities offered for investors and companies. He expressed his aspiration that the workshop will contribute to supporting the investment decision of interested companies and attract more investments to the natural gas upstream sector in Egypt

The workshop focused on promoting and showcasing the latest international bid round launched by the Egyptian Natural Gas Holding Company (EGAS), which offers 12 onshore and offshore blocks for natural gas exploration and production in the Mediterranean Sea and Nile Delta.

The event attracted participation from over 25 international and Egyptian exploration and production companies, along with numerous leaders from the petroleum sector.

Additionally, technical sessions provided an in-depth overview of both onshore and offshore exploration opportunities, key terms and conditions, as well as the functionalities of the EUG portal and bid round module, aimed at guiding and supporting potential investors in making informed decisions.

It's worth mentioning that, EUG has launched its eighth international digital bid round, and through the previous bid rounds, a total of 25 blocks have been awarded, achieving a 45.4% success rate.