EGAS announced a new international bid round for 2015 for 8 Blocks in the Mediterranean Sea with a total area of 11,849 km2.

The blocks offered as part of the bid round are: Block 1 West Arish Marine; Block 2 East Port Said Marine; Block 3 North Rumana; Block 4 North Raas Al-Ish Marine; Block 5 West Timsah Marine; Block 6 South Tinin Marine; Block 7 North Hammad Marine; Block 8 East of Alexandria Marine.

Minister of Petroleum and Mineral Resources, Sherif Ismail, also said that the international bid rounds offered by EGPC, EGAS and Ganoub El-Wadi (GANOPE) were the cornerstone to securing the energy needs posed by growing domestic consumption of petroleum products and natural gas.

He explained that the GANOPE offered an international bid round for oil and gas exploration at the end of December 2014 for 10 Blocks located in the south of the Gulf of Suez, the Eastern Desert, and the Western Desert.

The ministry of petroleum has been exerting their full efforts to accelerate exploration and production activities in Egypt through launching bid rounds for new concessions and encouraging IOC to invest in the country.

By: EOG