Egypt Posts New Bid Round in 4 Blocks in Red Sea

On November 4, 2025, Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, announced a new international bid round for oil and gas exploration in four blocks within the Red Sea. The announcement was made at the ADIPEC 2025 conference.

Timeline of Events

• 2019: A previous bid round for exploration in the Red Sea region is launched.

• October 2025: At the World Energies Summit in London, Minister Karim Badawi first signals that a new Red Sea bid round is being prepared.

• November 4, 2025: Minister Badawi officially announces the new international bid round at the ADIPEC 2025 conference.

• May 3, 2026 (12:00 PM): This is the official deadline for international companies to submit their bids for the new blocks.

Key Players & Offerings

• Key Organizations:

  • Ministry of Petroleum and Mineral Resources (MoPMR): The Egyptian government body setting the strategy.

  • Ganoub El Wadi Petroleum Holding Company (Ganope): The state-owned company officially offering the bid round.

• Key People:

  • Karim Badawi: The Minister of Petroleum who announced the bid round.

• The Offering:

  • What: Exploration and production rights.

  • Where: 4 blocks in the Red Sea (RS-Block 1, 2, 3, and 4).

  • New Feature: A new "R-Factor" production-sharing system to balance risk and investment.

At a Glance: Bid Round Details

Detail	Information
What's Happening	New international bid round for oil & gas
Location	4 blocks in the Red Sea
Announced By	Minister Karim Badawi
Bid Round Offered By	Ganope
Announcement Date	November 4, 2025
Application Deadline	May 3, 2026 (12:00 PM)
Key Policy Change	First use of an "R-Factor" production-sharing model

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