Petroleum Africa
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Monday, June 26, 2017
Egypt’s state-run oil firm in charge of operations in the south, Ganope, will be putting up acreage for auction from a survey acquired six months ago. Ganope agreed six months ago with several international oil companies to acquire seismic in the Red Sea.
The international firms acquired the seismic at a cost of $750 million.
The seismic is being conducted in aid of preparing reports on the reserves of oil and gas in the territorial waters after the re-demarcation of the border with Saudi Arabia, according to Al Mal. The report is expected to be ready by the end of 2017.
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