State-owned Egyptian General Petroleum Corporation (EGPC) has awarded two new offshore concessions to German energy company RWE Dea.
The concessions are located in the Gulf of Suez near three other fields operated by RWE Dea.
The firm will hold a 100 per cent interest in the East Ras Fanar Offshore concession and 50 per cent interest in the Northwest El-Amal concession, with American energy company Edison International holding the remaining 50 per cent.
The East Ras Fanar Offshore block is located in the central area of the Gulf of Suez, close to Deas Ras Fanar oil field.
The Northwest El-Amal block lies in the southern waters of the Gulf of Suez between the July and Amal oil fields.
Both blocks provide promising opportunities in an area where we know the geological conditions very well, says Maximilian Fellner, general manager of RWE Dea Egypt.
The new concessions will increase the companys number of operating licences in Egypt from six to eight and boost its acreage by 552 square kilometres.
The upcoming work programme for the concessions will include two exploration wells at East Ras Fanar Offshore, and one well at Northwest El-Amal.
In early September, RWE told MEED that work on its Disouq gas field was more than a month ahead of schedule.
RWE Dea also owns a stake in the West Nile Delta North Alexandria concession, which is operated by BP and is currently on hold while the operator negotiates with EGPC over commercial conditions.