Royal Dutch Shell and UK’s BP have submitted bids in Egypt’s petroleum tender, reported Al Mal News. An official with the Egyptian General Petroleum Corporation (EGPC) stated that Shell requested to obtain the Western Desert concession, while BP requested to work at the Gulf of Suez.
The companies’ proposals came in response to EGPC’s first tender in 2016 in regards to 11 concessions, with bidding concluding at the end of August 2016.
The tender is for 5 regions in the Gulf of Suez which are North-East of October, North-East of Al Hamd, North-East of Ramadan, East Badri, North Maritime Esran. In addition to 6 areas in the Western Desert which are North-West Razak, South-East Maleeha, North Um Baraka, South Allam Al Shaweesh, West Badr Eddin, and South-East Siwa.
In related news, Ganoub El Wadi Petroleum Holding Company’s (Ganope) had assigned five new oil and gas concessions to American, Canadian, Malaysian, British, and Egyptian firms, with investments exceeding a minimum of $100m.