EGAS to Put 11 Gas Exploration Blocks for Bid Rounds

Thursday, 30th May 2019
by Mai El Ghandour

MEDITERRANEAN SEA, ISRAEL – MARCH 28: In this handout image provided by Albatross, The Tamar drilling natural gas production platform is seen some 25 kilometers West of the Ashkelon shore on March 28, 2013 in Israel. The offshore Tamar drilling site which was originally dispatched from a shipyard in Texas at the end of last year is due to start producing natural gas next week. Over the past few years Israel has suffered from a shortage in natural gas, but with the new platform that weighs 34,000 tons and will be mainly operated by Israelis, the US company Nobel Energy which owns a 36% stake in Tamar, hopes to change Israel’s energy situation as well as the economy as a whole. (Photo Photo by Albatross via Getty Images)

The Egyptian Natural Gas Holding Company (EGAS) plans to put 11 natural gas exploration blocks for bid rounds in the western Mediterranean by Q1 2020, a source from the company told Al Shorouk.

EGAS has finalized seismic studies and scans, and is waiting for the Ministry of Petroleum’s approval to set a date for the bid rounds.

The company has indicated that there is an abundant amount of natural gas for exploration and production (E&P) in the 11 blocks.

According to the source, the 11 blocks “allow for new gas discoveries, especially in the borders with neighboring countries where large amounts of natural gas have been previously discovered.”