Cairo: Egypt has announced the commencement of an international tender for oil and gas exploration in 14 newly identified regions. Karim Badawi, the Minister of Petroleum and Mineral Resources, revealed that the bidding process will be conducted digitally via the Egypt Upstream Gateway (EUG) and will operate under a production-sharing agreement system.

According to Emirates News Agency, the newly designated exploration sites are spread across diverse geographical locations, including the Mediterranean Sea, Nile Delta, North Sinai, Gulf of Suez, Sinai, and the Western Desert. The tender is structured into two distinct submission phases. Interested parties can submit their bids for the first set of eight areas from August 11th until December 14th. The second submission window is open for bids on the remaining six areas from August 11th to November 11th.