
Egypt Opens New Four-Block Offshore Licensing Round in the Red Sea
Egypt has opened a four-block offshore licensing round in the Red Sea, inviting bids until May 2026 under a new R-factor-based production-sharing model.

Egypt has opened a four-block offshore licensing round in the Red Sea, inviting bids until May 2026 under a new R-factor-based production-sharing model.

The Suez Canal Authority met with global shipping lines in Ismailia, urging them to resume transits as regional calm and safety improvements support vessel returns.

Borr Drilling reported higher Q3 2025 revenue and new contracts in Mexico, the Gulf of America, and Angola, with strong rig utilization across its fleet.
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