CAIRO – August 15, 2024: Egypt will launch a new global tender to explore for natural gas in at least 10 regions in the Mediterranean and Nile Delta, a government official told Asharq Bloomberg.

The announcement of this international tender process could coincide with the upcoming International Mediterranean Petroleum Basin Conference and Exhibition (MOC), scheduled to take place in Alexandria in October.

Egyptian Minister of Petroleum and Mineral Resources Karim Badawi has reached an agreement with foreign partners to accelerate development plans for the concession areas.

This initiative aims to add new wells to the production network within the next few months, the source said.

With the aim of increasing natural gas production to about 5 billion cubic feet per day by the end of 2024, the Egyptian government is actively pursuing this goal, as a government official confirmed in an interview with Asharq Bloomberg in early August.

In addition, Egypt recently partnered with Italy’s Eni to build a $150 million stationary gas gasification plant in Damietta, not including a cargo storage facility.

This gasification infrastructure will facilitate the receipt of imported liquefied natural gas supplies and their conversion back into the gaseous state.

Talks are also underway about building a floating unit, the source stressed.