Saudi Arabia launches 3rd round of Exploration Enablement Program

Logo of Ministry of Industry and Mineral Resources

The Ministry of Industry and Mineral Resources, in cooperation with the Ministry of Investment, announced the opening of bids for the third round of the national Exploration Enablement Program (EEP).

EEP provides a comprehensive support package designed to reduce investment risks for mining exploration companies and license holders, accelerating the transition from exploration to development, according to a joint ministerial statement today, Feb. 1.

The program offers cash incentives covering up to 25% of eligible exploration expenditures, including drilling activities, laboratory testing, and geological studies. It also supports labor costs, providing up to 15% coverage for employees and experts residing in the Kingdom, the statement added.

It also covers up to 70% of salaries allocated for Saudi technical staff (geologists) during the first two years, with coverage potentially reaching up to 100% based on specific program requirements.

As for the timeline for that third round, bids submission runs from Jan. 14 through March 31. The bid evaluation and approval phase follows from April 1 to May 31, with qualified projects to be announced between June 1 and July 31.

The submission of exploration data for reimbursement and settlement will run from Sept. 1 to Nov. 30, to be followed by technical/financial verification of work programs and the approval of enablement disbursements in January 2027.

Exploration data will then be published on the geological database in April 2027, according to the statement.