Media ININ Economy We Trust
MEDIA IN, Cairo, May 21, 2018 (WAM)
Egyptian Minister of Petroleum and Mineral Resources Tareq Al-Mulla announced the launching of two international bids for the exploration and exploration of oil and gas for the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) in 27 sectors covering most of the sedimentary basins in the Arab Republic of Egypt.
He explained that the bid of the Egyptian General Petroleum Authority – for the search and exploitation of oil – included the introduction of 11 sectors, five sectors in Western Sahara and two sectors in the Nile Valley and three sectors in the Gulf of Suez and one sector in the Eastern Desert .. The tender included the company, “EGAS” – to search for gas And crude oil – 16 sectors were launched in 13 sectors in the Mediterranean Sea, including sectors located in the border areas in the Mediterranean Sea in addition to three sectors in the Nile Delta land, pointing out that the auction is the largest auction offered by Egyas in its history since its inception in 2001.
Al-Mulla stressed in a statement today the continuation of the ministry in the strategy of offering international tenders and the conclusion of oil agreements to intensify exploration and exploration activities for oil and gas and to attract international investments to increase production and reserve rates. Pointing out that Egypt is characterized by attractive oil opportunities in the light of the high oil and gas prospects and success stories achieved over recent years, especially in the field of gas discovery and production from the Mediterranean and the Nile Delta.
