Egypt has received bids from seven international firms
Egypt celebrates licensing round success
North African country find takers for eight blocks
Egypt’s latest licensing round saw seven international firms stump up $23.7mn in signature bonuses to license eight blocks across the country. The results look encouraging compared with the challenges many upstream nations have faced during a prolonged exploration slump. Four blocks onshore in the Western Desert, two off Egypt’s northern Mediterranean cost and two on the Gulf of Suez in the country’s southeast attracted bidders. Itay’s Eni was most active, securing three blocks as a sole bidder, one in partnership with BP and another with US independent Apex International. China’s Hong Kong-listed United Energy Group secured one of the remaining awards, as did the overseas arm of Chile’s Ena
Also in this section
10 February 2026
The country has opened bidding on 50 blocks in a new licensing round but will face competition for attention and will need to address concerns about security and legislation
10 February 2026
The alliance is keeping output on track and the market in balance amid geopolitical tensions and a fragile supply-demand ledger
10 February 2026
The February 2026 issue of Petroleum Economist is out now!
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
