On 18th February 2021, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, declared the actual launch of Egypt Upstream Gateway "EUG", via video conference. It is considered the first digital platform, providing geological data for exploration and production activities in Egypt, with international criteria, within the framework of investments attraction program, within the Petroleum Sector's Modernization Project.
El Molla announced the launch of the 1st international bid round for oil and gas exploration and exploitation for the year 2021 of the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS), through Egypt Upstream Gateway, in 24 blocks in the Gulf of Suez, the Western Desert, East & West of the Mediterranean.
The Minister praised the efforts exerted by all workers at the Upstream Gateway project for their success in completing it after 12 months of signing the MoU between EGPC and Schlumberger, within the activities of EGYPS 2020, Egypt Petroleum Show.
El Molla pointed out that the Gateway project is considered the first electronic platform in Egypt, as well as a milestone in the digital transformation efforts and a significant step putting Egypt in an international level in the oil and gas upstream domain.
During the event, 10 of the major IOCs Heads, including Eni, Apache and Wintershall Dea, signed membership agreements to join Egypt Upstream Gateway, before the actual launch of the gate. No doubt, it is a certificate of confidence from these companies operating in the upstream domain of Egypt's attractive climate for investment, as well as the existing promising opportunities.
El Molla during the Activities of the Actual Launch of Egypt’s Upstream Gateway 2
Participation of Major IOCs Heads in the Activities of the Actual Launch of Egypt’s Upstream Gateway via Video Conference
Meeting between Minister of Petroleum and the Teamwork of Egypt Upstream Gateway