The Egyptian Natural Gas Holding Company (EGAS) has awarded six new oil and gas exploration blocks to a group of international companies, aiming to ramp up investment in the country’s natural gas sector.

The awarded blocks include four offshore concessions in the Mediterranean offered through the 2024 international bid round via the Egypt Upstream Gateway (EUG), as well as two onshore blocks located in the Nile Delta and North Sinai.

The awarded contracts are expected to bring in around $245 million in investments, with a minimum of 13 exploratory wells to be drilled during the exploration phase.

Among the awarded blocks, the North Samian and Northwest Atoll offshore areas were secured by a consortium of Chevron Egypt and BG (Shell), which plans to drill two exploratory wells in each location.

The North Ras El Tin offshore block was awarded to IEOC Production (Eni), which will drill three exploratory wells.

Cheiron Egypt will also drill three exploratory wells in the East Alexandria offshore block.

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Onshore, IPR will drill two exploratory wells in the North Tanta block, while Perenco will undertake a 3D seismic survey and drill one exploratory well in the El Fayrouz block in North Sinai.

The move complements broader efforts by Egypt’s Ministry of Petroleum and Mineral Resources to attract foreign investment and expand exploration.

The Egypt Upstream Gateway platform continues to offer additional opportunities, including several undeveloped offshore discoveries in the Mediterranean.

Bidding for these assets closes on July 2, 2025, with results expected shortly afterward.

This latest round follows a separate award earlier this month of seven new exploration and production blocks under the Egyptian General Petroleum Corporation (EGPC), which is expected to attract further investment and lead to the drilling of at least 17 additional exploratory wells.

Egypt’s gas production has been in steady decline over recent years, falling to 3,485 million standard cubic metres in April 2025, according to data from the Joint Organisations Data Initiative (JODI).

This marks a sharp drop from the country’s peak of 6,133 million standard cubic metres in March 2021, raising concerns about supply shortfalls amid increasing domestic and export demand.

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