This announcement was made during the participation of Engineer Karim Badawi, Minister of Petroleum, in the activities of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). The Minister clarified that the deadline for submitting bids in this tender is May 3, 2026.
Badawi also pointed out that this tender, which is being launched by the South Valley Egyptian Holding Petroleum Company, is using for the first time a modern system based on production sharing based on a “profitability factor,” which encourages international companies to invest in virgin areas and deep waters.
The Minister affirmed that this step comes within the framework of the “National Energy Strategy,” which aims to expand the scope of exploration in new geological basins and attract global investments to the petroleum sector.
Badawi stressed that the Red Sea region is considered one of the “most promising areas for future discoveries,” noting that Egypt seeks to accelerate the pace of exploration and production and achieve a balance in the energy mix between traditional and renewable sources.
He added that Egypt is working to strengthen its position as a “regional energy hub” by taking advantage of the developed infrastructure and expanding cooperation with regional partners to secure energy supplies for Egypt and the region.
Finally, he explained that the mining sector represents a “fundamental pillar in the energy strategy,” by securing the necessary minerals for the renewable energy industry, stressing that Egypt seeks to develop this sector by establishing transformative industries that increase the economic value of local raw materials.
