Cairo – Mubasher: The Egyptian government announced launching international bids for oil exploration in eleven areas in the western Desert and the Gulf of Suez during 2016, said the Ministry of Petroleum in a press release.
Five areas are located in the Gulf of Suez, North-East of October, North-East of Al Hamd, North-East of Ramadan, East Badri, and North Esran, while the remaining areas are located in the Western Desert.
Earlier, the Ministry of International Cooperation signed agreements with Saudi Arabia to finance the supply of Egypt's needs of petroleum products for five years.
Following the latest oil explorations in Egypt, investors are encouraged to tap into Egypt’s energy market.
Earlier, Egypt awarded oil exploration licenses to a number of companies, including Britain’s BP and Italy’s Edison.
In late August, Eni announced that it had discovered the largest gas field in the Mediterranean off the Egyptian coast.
