Egypt will launch a bid round for offshore blocks before the end of the year, MEES learns. Despite lackluster interest 2021’s offering (MEES, 7 January), Cairo will be hoping to capitalize on a surge of interest in its gas-prone Mediterranean as Europe looks to secure more gas.
Italian firm Eni, already the largest player off Egypt, was the main winner in 2021 bidding with two large offshore blocks. Since then, the Italian firm has expanded further, taking the Northeast Arish block, previously held by UAE firm Dana Gas and farming in for 45% of Chevron’s (45%op) Narges block where drilling is currently taking place (MEES, 4 November). (CONTINUED - 241 WORDS)