Arab Finance: The Ministry of Petroleum and Mineral Resources has offered new investment opportunities in seven undeveloped fields in the Mediterranean Sea and six exploratory areas in the Gulf of Suez and the Western Desert through the Egypt Exploration and Production Gateway (EUG), according to an official statement.

The bidding for these oil and gas investments will be open for two months until May 4^th, 2025.

This announcement aligns with the ministry's efforts to attract new investments in exploration and production (E&P) by closing the bidding phase for 13 exploratory areas and brownfields.

Meanwhile, the received bids are being evaluated with expected investments exceeding $700 million that could be doubled in the case of a commercial discovery.

The seven discoveries in the Mediterranean have been divided into two clusters to ensure the acceleration of production and maximization of economic returns.

The first cluster includes the Aten, Merit, and Rahmat fields, while the second consists of Nots, Salamat, Satis, and Salmon fields.

Additionally, the ministry offered six exploration areas in the Western Desert and the Gulf of Suez to expand oil and gas production in addition to enhancing the positive impact on the national economy.

The Western Desert areas include North East Beer El-Nus, South Fayoum, and Wadi Sanur, while the Gulf of Suez areas include East Geisum, East Gebel El-Zeit, and East Shadwan.

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