Egypt’s latest oil and gas licensing round has elicited 25 submissions from 12 international oil companies looking for exploration and production agreements in the North African state.
A total of 15 concessions have been made available by Egypt’s Petroleum Ministry in several locations. These include the Gulf of Suez and Sinai as well as the eastern and western desert regions.
Media reports in Egypt say the state-owned Egyptian General Petroleum Corporation (EGPC) is now studying the submissions and will make a decision after a full evaluation is complete.
Egypt is ramping up its oil and gas operations. Norway’s Aker Solutions was recently awarded a contract to supply wellhead equipment to Egyptian oil group Badr Petroleum Company (Bapetco).