To Evaluate Gas Reserves in the Mediterranean.. Egypt Launches an International Tender for Seismic Survey

SadaNews - Egypt has launched an international tender for companies specialized in seismic surveying to conduct a survey covering 100,000 square kilometers in the eastern Mediterranean using advanced technologies, primarily to assess gas reserves in the region aiming to enhance discoveries, according to a government official who spoke in a press interview on the condition of anonymity.

The eastern Mediterranean region accounts for the largest share of natural gas production in Egypt at 62%, followed by the Nile Delta at 19%, and the Western Desert at 18%, through 20 operating companies, according to data issued by the Egyptian Ministry of Petroleum and Mineral Resources.

The official stated that "the survey will be carried out by more than one company by dividing the targeted area into specific sectors, which will be surveyed during designated periods and according to a set schedule to expedite exploration operations" and added that "Egypt will not bear the costs of the seismic survey as companies providing this service will be allowed to charge fees from global companies wishing to carry out exploratory operations if they wish to purchase data packages related to these areas."

The Egyptian Ministry of Petroleum did not comment.

Egypt relies on the oil and gas sector to meet the increasing local demand for petroleum products, and then resume gas exports that have been halted for years.

The Red Sea

Egypt contracted in 2017 with the international company "Schlumberger" to conduct a regional seismic survey in the Red Sea and the Gulf of Suez to provide modern data packages for companies in the areas opened for gas and oil exploration.

The government official added that "the survey will provide many small and medium companies operating in gas production in the eastern Mediterranean with the opportunity to obtain new data and areas, helping them to continue working, especially in light of the rising cost of survey operations... Companies will save at least 60% of the cost of conducting seismic surveys."

The eastern Mediterranean region includes the most prominent gas fields producing in Egypt, led by the Zohr field, the largest natural gas field in Egypt, located in the Shorouk concession in deep waters of the Mediterranean Sea. The field's reserves are estimated at about 30 trillion cubic feet of natural gas, with the main operator being the Italian company "Eni."