Oil Minister Tarek El Molla issued directives over the weekend to increase the number of crude oil tenders this year, sources tell Al Borsa. The EGPC was given orders to complete tallying potential exploration concessions ahead of issuing global tenders. The move comes as part of the ministry’s plan to bolster crude oil production from a stagnant rate of around 700K bbl/d and minimize its reliance on imports, especially following the success of last July’s tender which saw Apache, Shell, and Apex among the winners.

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