Egypt could launch oil and gas exploration bid round this month


Egypt's state oil and gas companies are set to launch a new exploration bidding round by the end of the month, according to the nation's petroleum minister.


Tarek El Molla said that state oil and gas firms EGPC and EGAS are expected to launch the tender by end-February, Africa Oil+Gas Report wrote. The tender will include offshore blocks in the Mediterranean and Nile Delta, an onshore areas in the Western Desert and Eastern Desert.


Egypt most recently signed nine exploration agreements with six local and international oil companies in January. The contracts were worth more than $1 billion and cover drilling 17 new exploration wells.


In January, El Molla said that three additional agreements would be approved in the near future.


Credit to www.oilandgasmiddleeast.com


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