Egypt Puts New Acreage On Offer

Egypt has launched its second bid round of the year with state oil firm EGPC’s Upper (southern) Egypt-focussed arm Ganope on 1 August offering 10 blocks, half located in the Gulf of Suez and the other half deep in the country’s remote Saharan southwest.

Much of the Gulf of Suez acreage has been heavily drilled and explored and companies will see it as a relatively low-risk investment, while the desert south west is largely frontier territory – albeit territory that has been on offer in previous bid rounds. Dana Petroleum, Korean state firm KNPC’s Aberdeen-based subsidiary and cash-strapped Ukrainian state firm Naftogaz are among those active.


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE