Dubai, United Arab Emirates (CNN) – Egypt announced, Thursday, the launch of the first global bid for oil and natural gas exploration and exploitation for 2021 for the Petroleum Authority and the Egyptian Natural Gas Holding Company (EGAS).
Egyptian Minister of Petroleum Tarek El-Molla said that the bid would cover 24 exploration areas in the Gulf of Suez, Western Sahara, and the eastern and western Mediterranean.
Al-Mulla’s statements came on the sidelines of the launch of the first digital platform for geological data for oil research and exploration activities in the country (Egypt Upstream Gateway -EUG), through which the auction was launched.
Al-Mulla said that the platform comes within the framework of the investment attraction program within the petroleum sector development and modernization project.
During the events, 10 heads of major international oil companies, including Italy’s Eni, the American Apache and the German Dea, signed membership agreements at the Egypt Research and Exploration Portal before the actual launch of the portal.
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