The Ministry of Petroleum is considering a revival of the seabird (Tair al-Bahr) bid in the southern Gulf of Suez and the inclusion of an Egyptian partner in order to increase the role of Egyptian companies in oil exploration and production, Al Mal reported.
Engineer Mohamed Al Masry, the Head of the Egyptian General Petroleum Corporation (EGPC), told Al-Mal that the bid was not cancelled and is currently being studied, adding that it will soon be activated.
The consortium, launched by EGPC, Tharwa Petroleum, and Tanmia Petroleum Company, had won the bid in late 2014, but the lack of liquidity necessary to carry out programs of exploration and drilling prevented the activation of the bid.
A senior official at EGPC revealed that the company was currently studying the prospect of including an Egyptian partner to the consortium, adding that Trident, Tri Ocean, Mina, Biko, Burj Al Arab, and West Gharib were the most important companies currently under consideration.
Work on the seabird region had stopped since 2002 because the Tourism Development Authority had fears about environmental pollution and its impact on Hurghada resorts.