The Egyptian Natural Gas Holding Company (EGAS) has awarded six new natural gas exploration blocks to international energy companies, with minimum committed investments of $245 million and drilling of 13 exploratory wells.

Block Allocation Details

Mediterranean Sea Blocks

1. North Semian Offshore & Northwest Atoll Offshore

   • Consortium: Chevron Egypt & BP (Shell)

   • Commitment: 2 exploratory wells per block

2. North Ras El Tin Offshore

   • Operator: Ieoc Production (Eni)

   • Commitment: 3 exploratory wells

3. East Alexandria Offshore

   • Operator: Cairn Egypt

   • Commitment: 3 exploratory wells

Onshore Blocks

4. North Tanta (Nile Delta)

   • Operator: A.P.R.

   • Commitment: 2 exploratory wells

5. El Fayrouz (North Sinai)

   • Operator: Burenco

   • Commitment: 3D seismic survey + 1 exploratory well

Additional Investment Opportunities

• Egypt's Exploration & Production Gateway has listed multiple untapped Mediterranean offshore fields.

• Bidding closes on July 2, 2024, with results announced immediately after submission.

Strategic Context

• Part of Egypt’s 2024 global bid round to boost gas reserves.

• Aims to sustain LNG exports and attract upstream investment.