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Egyptian state oil company EGPC this week awarded six of the 11 blocks that it had offered in a bid round launched in May. Of six Western Desert blocks on offer, five found takers. And they went to the key local producers Apache and Shell – who have existing production on neighboring blocks (see map) as well as Apex International, a US-based firm headed up by former Apache executives.
But of five Gulf of Suez blocks offered only one found a taker, with BP signing up for the Northeast Ramadan block (MEES, 20 May). Of the Western Desert acreage on offer only Southeast Siwa – previously relinquished by Apache – was not awarded (see map). (CONTINUED - 693 WORDS)
DATA INSIDE THIS ARTICLE
|table||Egypt: Latest Block Awards|