Petroleum Ministry announces results of $800m worth EGAS, EGPC tenders

The Minister of Petroleum and Mineral Resources, Tarek El-Molla, announced the results of the oil and gas exploration posed by the Egyptian Natural Gas Holding Company (EGAS), and the Egyptian General Petroleum Corporation (EGPC).

The total limit of private investments of EGAS reached $600m, while that of the EGPC reached $164m, aside from the grants, to bring the total to $800m.

El-Molla said the winning companies of the EGPC tender are committed to drilling 39 exploration wells.

Meanwhile, the winning companies of EGAS tender will dig 21 exploratory wells in different concession areas.

The EGPC granted the following concession areas to the respective companies: Sector 2 West Amer concession area was granted to the General Petroleum Company, Sector 4 North Beni Suef to Neptune Energy, Sector 5 North Beni Suef to Merlon International, LLC, Sector 7 West Fayoum to Shell, while Sector 9 South East of Horus to Shell, Sector 10 South AbuSnan was given to Shell, and Sector 11 East of Siwa to ENI.

Meanwhile, the winning companies of the EGAS tender were announced as follows: The North of Amreya Marine Company concession area was tendered to Exxon Mobil, while the North Sidi Gaber to Shell and PETRONAS, North El Fanar to Shell and PETRONAS, while the Northeast of Damanhur to Diya, and North West Sherbin to BP and ENI.