Egypt awards 6 gas blocks in $245m bid round — EGAS

Egypt’s state-run natural gas company EGAS has awarded six natural gas exploration blocks to international firms under its 2024 global bid round, with total expected investments of around $245 million, the petroleum ministry said on Wednesday.

The concessions include four offshore blocks in the Mediterranean Sea and two onshore areas in the Nile Delta and North Sinai, with a minimum of 13 exploration wells to be drilled during the contract period.

Chevron Egypt and BG (Shell) secured the North Samian Offshore and Northwest Atoll Offshore blocks, each with plans to drill two exploration wells.

Italy’s Eni, through IEOC Production, was awarded the North Ras El-Tin Offshore block, where it plans to drill three wells.

Cheiron Egypt won the East Alexandria Offshore block, also with three planned wells.

Onshore, IPR was awarded the North Tanta block in the Nile Delta, with two wells to be drilled, while Perenco secured the El Fayrouz block in North Sinai, where it will conduct a 3D seismic survey and drill one exploration well.

EGAS added that further investment opportunities remain open on the Egypt Upstream Gateway (EUG), including undeveloped offshore Mediterranean fields. The bid round for these areas closes on July 2, with results to follow.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser