Petroleum Africa
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Saturday, January 2, 2016
According to local media reports, the Egyptian General Petroleum Corporation (EGPC) will initiate a bid round near the end of Q1. Tarek el Molla, the country’s Minister of Petroleum, said that EGPC had received clearance from security officials and relevant ministries to initiate a bid round for exploration acreage in the Western Desert.
Despite a depressed global oil and gas exploration market, Egypt has continued to attract interest to its exploration plays in the Gulf of Suez, Mediterranean, and Western Desert. It will be interesting to observe the participation level in its upcoming round in light of tightened budgets.
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