Egypt’s EGPC awards 4 exploration blocks in latest bid round

The Egyptian General Petroleum Corporation (EGPC) successfully concluded its latest bid round on Tuesday, awarding four exploration blocks through the Egypt Upstream Gateway (EUP).

The awarded blocks are located in the Western Desert (NW El Moghra), the Eastern Desert (W. Kheir), and the Gulf of Suez (E. El-Galalla & E. El-Hammed).

Moreover, the winning companies, CIS Gaz, Aten, Dragon Oil, and Terra Petroleum, will explore these blocks, which span approximately 4,000 square kilometres. Notably, the firms have committed a minimum investment of $71 million for the initial exploration phases, including drilling at least 14 wells.

Attribution: EUP

Subediting: M. S. Salama