The Oil Ministry is lining up an exploration push built around two international tenders, revamped pricing terms, and faster arrear payments, a senior government source tells EnterpriseAM.

The clock starts now: The first international tender is set to launch next month, with the second following in 2H. The second round will lean on fresh seismic data from a survey kicking off next month, covering 18k km in the Mediterranean and 5.3k km in the Western Desert.

At the core is a rework of exploration and production pricing — a long-standing ask from international operators. The aim is to make undeveloped areas — including those in Upper Egypt — more attractive to investors.

Money talks: The government is preparing a schedule to clear dues owed to foreign energy players. After a USD 400 mn payment this month, the ministry plans to push another USD 350 mn by March, sending a clear signal to international oil companies.

The latest sign we’re not as heavily reliant on LNG imports as we once were: The Energos Eskimo floating storage and regasification unit has departed from Ain Sokhna — despite a multi-year contract — signaling confidence in our supplies as well as Israeli gas.

Egypt wants gas production back at 6.6 bcf/d, up from some 4.2 bcf/d now, to cut its import bill and lock in its regional hub ambitions.

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