​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Program 1: Attract investment in research and exploration


Main Objective:

  • Develop an attractive environment for foreign investment.
  • Reduce bid round cycles & improve evaluation efficiency.
  • Attracting new entries through innovative approaches such as Multiclient projects
  • Streamline current Bid Round processes.
  • Improve the current Model Agreement.
  • Expand concession agreement portfolio.

Achievements to date:

  • Launched the first digital upstream portal “Egypt’s Upstream Gateway”
  • Completing the first phase of Red Sea Multiclient Project and awarding 3 Blocks as first Red Sea Bidround Results
  • Completing the West Med Phase-2 Multiclient Project and awarding 7 Blocks to the largest petroleum companies
  • Starting the GOS Multiclient project surveys
  • Enhance terms for fiscal regimes to be more competitive for frontier areas