Egypt’s ministry of petroleum has received 25 proposals from 12 international companies to search for oil and gas across the eastern and western desert, Gulf of Suez and Sinai, daily Egyptian newspaper Al Ahram reports Sunday, citing Adel Saeed, the vice chairman of the Egyptian General Petroleum Corporation (EGPC).

The deadline for the international tender for the 15 concessions ended March, the report said.

The EGPC will look at the bids over the next week, Saeed was quoted as saying, without disclosing when a decision will be made.

The country’s finance ministry provided $100 million to the EGPC last Thursday for investing in oil and gas imports, the report adds.

Source: Zawya & Dow Jones