Ganoub El Wadi Petroleum Company (Ganope) has invited oil and gas investors to offer their bids for exploration and production (E&P) in the Red Sea bid round, Egypt Oil & Gas reports.

The bid round will be open for 10 exploration blocks in Egypt’s territorial waters in the Red Sea to explore the area according to the production sharing agreement (PSA) applied in Egypt, the company announced in a statement on Sunday.

Ganope invited investors to submit their offers following the announced procedures, PSA terms and conditions, as well as main commercial parameters.

“Interested investors can review the technical data and purchase the data package related to the bid round blocks upon their prior request starting Sunday, March 10th, 2019,” the company indicated.