PGNiG SA was informed that the bid submitted by the company for exploration on Bahariya 3 Block in Egypt was accepted by Egyptian General Petroleum Corporation. It was the first bidding round for exploration concessions in Egypt in which PGNiG submitted its bid.
The Bahariya Block is located approximately 200 km south-west of Cairo in the Western Desert area. Over the last 10 years, a number of significant oil field discoveries were made in the Western Desert. The Bahariya Block covers the area of 4,414.4 sq. km.
In accordance with the Egyptian procedure the award of the Bahariya concession is subject to approval by the competent authorities of the Arab Republic of Egypt.