Petroleum min. announces launch of 2 exploration bids
Monday، 21 May 2018 - 12:58 PM
The Petroleum Ministry is still acting to launch international bids and sign exploration agreements with the aim to increase oil production and reserves.
Indeed, Egypt offers attractive opportunities in the field of oil and gas, said Petroleum Minister Tareq el Molla in statements on Monday 21/5/2018 .
He announced the launch of two international bids in 2018 to explore for oil and gas.
The bids are conducted by the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Co. (EGAS) in 27 sections covering most of the sedimentary basins in Egypt, Molla noted.
He said that the EGPC bid includes 11 sections; five in the Western Desert, two in the Nile Valley, three in the Gulf of Suez and one in the Eastern Desert.
The EGAS bid, which is the largest in the company's history since its launch in 2001, covers 16 sections; 13 offshore in the Mediterranean Sea and three in the Nile Delta.