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Friday, January 16, 2015
Italy’s ENI has picked up two more blocks in Egypt as a result of EGAS’ 2013 bid round. ENI signed two concession agreements for the North Leil and Karawan blocks in Egypt’s Mediterranean Sea. The latest awards brings the total blocks awarded to the company this year to three.
ENI will hold the North Leil concession as operator with a 100% equity and on the Karawan it will hold a 50% stake, partnered with BP. The two blocks, which will be operated by the company’s subsidiary IEOC, are located in Mediterranean deepwater west of the Shorouk block, which it acquired last year.
Earlier this month the company signed a concession agreement for the South-West Melehia block in Egypt’s Western Desert. This award follows EGPC’s 2013 international competitive bid round.
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