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Oil & Gas

Egypt launches 2019 Bid Round for Red Sea Oil & Gas Exploration

Red Sea
Posted: March 10, 2019 at 2:00 pm   /   by   /   comments (0)

The Ministry of Petroleum and Mineral Resources of Egypt (M.O.P) invite international qualified and interested companies having the technical and financial capabilities for an International Bid Round to explore and exploit oil and gas in offshore Egyptian Red Sea based on PRODUCTION SHARING AGREEMENT (P.S.A).

South Valley Egyptian Petroleum Holding Company (Ganope) is the entity of the M.O.P charged with managing and stewardship of all aspects related to petroleum activities of the Red Sea, thereof the Bid-Round Processes, Communications, Bid Evaluation and Initial Blocks awarding are administered by Ganope.

The Offshore Red Sea Bid Round (O.R.S.B.R 2019) includes ten (10) Exploration Blocks in the Economic Water of the Red Sea as shown in the attached map.

This Call for Bids describes the offshore areas offered in ORSBR 2019, the process for bid submissions, the information required to be submitted with bids, the necessary qualifications for participating companies, bid evaluation criteria, and other information for prospective bidders. Detailed information about the requirements for the Bid Round are available at: (Offshore Red Sea Bid Round).

Interested Companies can review the technical data and purchase the Data Packages related to the Bid Round blocks upon their prior request and according to the relevant stated fees starting Sunday March 10th, 2019.

The closing date for the submission of bids is 1st of August, 2019, 12:00 o’clock @noon Cairo time (GMT+2).

(Source: Ganope)