Monitoring Desk
ISLAMABAD: Egypt on Tuesday launched an international tender for the exploration of crude oil and natural gas in the Nile Delta and the Mediterranean Sea.
The Petroleum and Mineral Resources Minister of the country Tarek El-Molla said in a statement that the tender given by the Egyptian Natural Gas Holding Company (EGAS) aimed to attract investment to explore oil and gas in promising areas.
State news agency MENA quoted him as saying that the tender covered twelve regions in the Nile Delta and the Mediterranean, including six offshore regions and six onshore.
Egypt seeks to set up gas exploration
Egypt is trying to step up its exploration of natural gas deposits in the Mediterranean to increase its gas production to fulfill the needs of the local market and for export.
Following Russia’s aggression against Ukraine in February 2022, the European Union is trying to reduce its reliance on energy supplies from Moscow and is trying for energy agreements with other countries, including Egypt.
Egypt succeeded in achieving self-sufficiency in gas in 2018.
