Egypt launches tender for oil exploration

Egypt’s Ministry of Petroleum yesterday announced that it had launched a new global tender to search for oil and natural gas in ten different areas.

Minister of Petroleum and Mineral Resources Tariq Al-Mulla said the tender was launched via the government owned Ganoub El-Wadi Petroleum Holding Company (Ganope). It will allow for new investments into the sector and ensure areas which have not been explored are searched.

Dr Sherif Sousa, head of Ganope, said this move will contribute to increasing the pace of exploration activities in the Gulf of Suez and Western Sahara.