The Egyptian General Petroleum Corporation (EGPC) is preparing to sign the contracts related to the exploration and production (E&P) tenders it launched in 2018, a source at EGPC told Amwal Al Ghad.

The contracts are set to be signed during the first half of 2019, the source stated, adding that 2019 will not witness new contracts as the first to be signed will be those related to tenders that have already been launched by EGPC and the Egyptian Natural Gas Holding Company (EGAS).

EGPC launched two tenders in 2018 for E&P in five concessions in the Western Desert, two concessions in Nile Delta, three in the Gulf of Suez, and one in the Eastern Desert.

EGAS announced one tender in 2018 for E&P in 13 concessions in the Mediterranean Sea, and three concession in Nile Delta onshore area.