The tender, offered by the state-owned South Valley Egyptian Petroleum Holding Company (GANOPE) through the Egypt Upstream Gateway (EUG) online portal, marks the first time that modern systems are being applied to encourage international companies to inject new investments into frontier and deep-water areas, Badawi explained.
The bidding process will adopt the R-Factor production
sharing system, which links returns to profitability and aligns with the scale
of risks and investments, the minister said.
Badawi stressed that the new tender aligns with the first
pillar of the ministry's strategy, which aims to attract more foreign
investment in exploration, particularly in virgin geological basins. He noted
that the Red Sea region is considered one of the most important new petroleum
areas, rich with promising opportunities for future discoveries that could
enhance Egypt's production capacity.
The Minister added that this step is a practical translation
of the ministry's efforts to maximize resource utilization and boost local
production of oil and natural gas. He indicated that the ministry is working to
create an attractive investment environment and apply the latest contractual
systems that keep pace with global developments in the oil and gas industry.
All tender details are available to international companies
through the Ministry of Petroleum and Mineral Resources' official digital
platform, the Egypt Upstream Gateway (EUG), which is used for announcing
investment opportunities in exploration and field development, Badawi
clarified.
The deadline for submitting bids has been set for May 3, 2026, allowing sufficient time for international companies to technically study the offered blocks and prepare their investment proposals with the highest level of accuracy and technical efficiency.