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China-Africa Trade Information Service
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China-Africa Trade Information Service
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Egypt is set to initiate a new global tender for natural gas exploration across a minimum of 10 regions in the Mediterranean Sea and the Nile Delta waters, as disclosed by a government official to Asharq Bloomberg.
The unveiling of this international bidding process may align with the upcoming International Mediterranean Petroleum Basin Conference and Exhibition (MOC) scheduled for October in Alexandria.
Minister of Petroleum and Mineral Resources, Karim Badawi, has reached an agreement with foreign collaborators in Egypt to hasten the development schemes for the concession areas.
This initiative aims to incorporate fresh wells into the production network within the next few months, as per the source.
With a target to elevate natural gas output to approximately 5 billion cubic feet per day by the close of 2024, the Egyptian government is actively pursuing this goal, as confirmed by a government official speaking to Asharq Bloomberg earlier this August.
Furthermore, in a recent development, Egypt has collaborated with the Italian firm Eni to establish a fixed gasification facility in Damietta, amounting to $150 million, excluding a cargo storage facility.
This gasification infrastructure will facilitate the reception of imported liquefied gas shipments and their conversion back to a gaseous state.
Discussions are also underway for the construction of a floating unit, as highlighted by the source.
