Petroleum Africa
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Friday, January 3, 2014
Egypt’s state-run oil and gas firms, EGPC and EGAS, recently posted an advertisement for the country’s next international licensing round. The firms will be offering up 22 oil and gas concessions in the Suez Canal, Western Desert, Mediterranean, and Nile Delta. Officials in the country suggested that there could be changing pricing arrangements to reflect high costs of offshore exploration in deep water, saying that it will spur new investments.
EGPC will offer 15 of the 22 blocks that will be up for auction and EGAS is offering the remaining seven. Of the 15 blocks being offered by EGPC, five are in the Gulf of Suez and include the South Warda, NE October, North Issran Offshore, the East Ras Fanar, and the NW El Amal. The other 10 blocks up for licensing are in the Western Desert and include the Northwest Gindi, NW Wadi El Rayan, SW Alamein Block, SW Alam El Shawish, SW Sitra, NW Sitra, SW Kalabsha, NW Ghalazat, SW Meleiha, and NW Kalabsha.
EGAS’ seven blocks are in the Mediterranean and the Nile Delta. The El Mahala Onshore (Block 2), North El Salhiya Onshore (Block 1), and the North El Fayrouz Offshore (Block 5) are located in the Nile Delta; while the North Port Fouad Offshore (Block 7), Karawan Offshore (Block 8), North Leil Offshore (Block 9), and the North El Dikheila Offshore (Block 10) are all located in the Mediterranean.
Both EGPC and EGAS’ licensing rounds opened on December 30 and will close on May 19. Companies interested in the acreage may contact EGPC and EGAS for the data packages on the blocks.
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