​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​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" on February 2021
  • Launched the first digital E&P bidround for 24 Blocks in Mediterranean , Gulf of Suez and Western desert
  • Completing the first phase of Red Sea 2D Multiclient Seismic Project and awarding 3 Blocks as first Red Sea Bidround Results
  • Executing the second phase of the Red Sea Multiclient with 3D Seismic acquisition for 13,000 km2
  • Completing the West Med Phase-2 Multiclient Project and awarding 7 Blocks to the largest petroleum companies
  • Finalizing  the second phase of the West Med Multiclient with 3D Seismic acquisition for 31,000 km2
  • Acquiring the first time OBN Seismic surveys for 1000 km2 in GOS as part of Multiclient project
  • Enhancing the  terms and conditions  and  fiscal regimes to be more competitive for IOC's