Two Bid Rounds in 2018 for Egypt

Wednesday, May 23, 2018

A statement from Egypt’s Petroleum Ministry revealed the news that state run firms will launch two international bid rounds this year.

One bid round will cover 16 concession areas, mostly in the Mediterranean Sea. This licensing round will be hosted under state-run EGAS and is the largest bid round the company has ever hosted. The second bid round is being hosted by EGPC and will cover 11 concession areas.

The government is seeking to take advantage of the recent successes its oil and gas industry has seen. It is hoped that successes like the Zohr gas field and other discoveries will generate substantial interest in the blocks on offer.

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