By: TPA News Desk | editor@thepointafricanews.com

Egypt has officially awarded seven new oil exploration and production blocks to a consortium of international and local companies, with ambitious plans to drill 17 wells within these new concessions. This move, announced by the Egyptian Ministry of Petroleum on Thursday, aims to significantly boost the nation’s oil output and attract further foreign investment into its vital energy sector.

The award of these new blocks is part of Egypt’s ongoing strategy to maximize its hydrocarbon production rates. The country has been intensifying efforts to secure domestic petroleum needs, enhance competitiveness in the energy market, and solidify its position as a regional energy hub. These seven blocks are expected to contribute to this goal by expanding exploration and development activities across various promising regions.

While specific company names associated with this latest award were not immediately disclosed in all reports, Egypt has consistently engaged major international oil companies (IOCs) and regional players in previous bid rounds. The commitment to drill 17 wells underscores the immediate focus on tangible exploration and production efforts within these newly allocated areas.

This announcement follows earlier initiatives in 2025, where Egypt launched new licensing rounds for both offshore and onshore blocks, and approved significant energy agreements aimed at expanding exploration and development activities in regions like the Western Desert, Gulf of Suez, and the Mediterranean. The Egyptian government continues to emphasize its commitment to attracting investments and leveraging its hydrocarbon resources for economic growth.