Ministry of Petroleum to Launch Bid Rounds in West Mediterranean
Tuesday, 11th June 2019
The Ministry of Petroleum and Mineral Resources is planning to launch a new bid round in Q3 2019 for natural gas exploration in the western Mediterranean region, Al Ahram reported.
The ministry pointed out to the importance of the seismic survey projects carried out by Egypt in the western Mediterranean and the Red Sea, which opened new horizons for international oil companies (IOCs) to explore gas in these two regions.
Moreover, Egypt is intensifying its exploration activities in promising new areas to search for oil and gas by launching new bid round for oil and gas exploration in these areas.
The first global bid that Egypt launched for the exploration of the Red Sea is currently receiving offers.