February 19, 2021 at 10:40 am | Published in: Africa, Egypt, News
The headquarters of the state-owned Egyptian Natural Gas Holding Company (EGAS) in Cairo, on April 23, 2012 [KHALED DESOUKI/AFP/GettyImages] February 19, 2021 at 10:40 am
Egypt is launching a global round of bids for oil and gas exploration and production across 24 blocks, the Petroleum Ministry announced yesterday.
In the official statement, the ministry said that the blocks were located in nine areas in the Mediterranean Sea, 12 in the Western Desert and three in the Gulf of Suez. The bid aims at attracting foreign investment as part of the state-run Petroleum Sector Development and Modernization Project, the statement read.