EGAS will issue tenders for oil and gas exploration and production in eight or nine concession in the Mediterranean by the end of the year, Oil Minister Tarek El Molla told Al Borsa, bringing the total number of concessions during the year to 30.
The new tender is set to be issued once EGPC and Ganope complete the tenders being fulfilled throughout August.
EGAS is obtaining the necessary regulatory approval for the concessions it is planning on tendering. Separately, the Oil Ministry is negotiating the price of natural gas from North Sinai with an unnamed IOC, El Molla told Al Borsa. He did not name company or provide any further details.