EGAS Tenders 9 Concessions for Exploration

The Egyptian Natural Gas Holding Company (EGAS) will issue a tender for discovery and exploration of oil and gas in 8 to 9 sectors in deep sea waters off the shore of the Mediterranean. This will bring the total number of concessions up for tenders within 2016 to 30. The Egyptian Minister of Petroleum, Tarek El Molla, stated that EGAS’s tender will proceed once the previous two tenders issued by Ganoub El Wadi Petroleum Holding Company (GANOPE) and the Egyptian General Petroleum Corporation (EGPC) conclude, Al Borsa reported.

El Molla added that the approvals are currently being collected in regards to the concessions proposed by EGAS, citing the huge discovery of Zohr field as a major drive for international firms to further explore the area.

In March, EGPC issued a tender for the explorations of oil and gas in 11 concessions. Tarek El Hadidi, EGPC’c President, informed that the tender is expected to conclude by the end of August.

Earlier in August, GANOPE launched an international tender for oil and natural gas exploration in 10 sectors in the southern regions of the Gulf of Suez and Western Sahara, according to Egypt Independent.