Egypt puts more offshore acreage on offer in new oil & gas round

Egypt’s Ministry of Petroleum and Mineral Resources has launched a new licensing round encompassing offshore and onshore blocks to attract investments in the country’s oil and gas production and exploration.

The Ministry has invited international companies to bid for seven undeveloped fields in the Mediterranean Sea, three offshore exploration areas in the Gulf of Suez, as well as three onshore exploration areas in the Western Desert. 

This round of the Open Blocks Licensing Program (OBLP) will be open for two months, from March 2 to May 4, 2025. The opportunities will be available through the Egypt Upstream Gateway (EUG) online platform.

According to the Ministry, this forms part of its strategy to attract new investments in the upstream sector, increase crude oil and gas production, and enhance sustainability in the industry.

The previous round, which was launched through the Egyptian Natural Gas Holding Company (EGAS) in August 2024, closed on February 25, 2025. Ten offshore blocks and two onshore blocks were offered in the Mediterranean and the Nile Delta.

The new round is in line with Egypt’s agenda to stimulate investment in hydrocarbon exploration and field development announced by the Petroleum Minister in July 2024. The plan entails drilling 586 oil and gas wells by 2030.

More recently, BP brought online the second development phase of the Raven field at the West Nile Delta (WND) concession in the Mediterranean within the Egyptian Exclusive Economic Zone (EEZ).