EGAS upcoming Bid Round will include 11 Blocks in Egypt’s West Mediterranean
The EGAS upcoming Bid Round will include 11 Blocks in Egypt’s Western Mediterranean.
Dr. Samir Rasslan, EGAS vice Chairman for Agreements & Explorations announced on the last day of MOC, that the Egyptian Natural Gas Holding Company (EGAS) will invite Petroleum Exploration Companies for 2020 International Bid Round to explore/exploit for Gas and Crude Oil in Egypt before the end of 2019.
This Bid Round includes sixteen (15) Exploration Blocks in the western Mediterranean Sea and Nile Delta basins of Egypt, He pointed out that 4 regions have been demarcated in the eastern Mediterranean and the procedures have been completed for 11 regions in the western Mediterranean out of a total of 15 regions.
He added that the coming period will witness an intensive activity in the work of research, exploration and production in the Red Sea region, after the completion of the evaluation of bids submitted by international oil companies; to participate in the first global bid for research and exploration for oil and gas in this pristine area. New gas exploration areas in the Mediterranean are also under preparation in a global bid for the current fiscal year 2019/2020.
Also, project of collecting geophysical data in the open land areas of Upper Egypt, which is planned to start during the current fiscal year, using a new technology implemented for the first time in Africa and the Middle East; in preparation for launching new auctions for the search for oil and gas in these areas, which contributes to the opening of prospects.
(Source: Eastern Mediterranean Monitor)