The Egyptian General Petroleum Corporation (EGPC) is planning to launch a new exploration and production (E&P) tender before the end of 2017, according to the Head of EGPC, Abed Ezz El Regal, Amwal Al Ghad reports.
EGPC is completing operational procedures and obtaining the required approvals in order to launch the tender, Ezz El Regal said. He added that the purpose of the new tender is to raise Egypt’s production and reserves of crude oil.
Apex International Energy and Royal Dutch Shell signed E&P agreements with EGPC at the end of August, Egypt Oil & Gas reported at the time. Under the agreements, the companies are required to invest at least $81.4 million in E&P projects in the Western Desert.