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EGAS plans gas exploration bidding in Nile Delta, Mediterranean Sea

EGAS plans gas exploration bidding in Nile Delta, Mediterranean Sea
EGAS plans gas exploration bidding in Nile Delta, Mediterranean Sea

Cairo – Mubasher: Egypt's state-owned gas company The Egyptian Natural Gas Holding Company (EGAS) plans to hold a bidding round for natural gas exploration in Mediterranean Sea as well as Nile Delta, said head of the company according to an official press release.

The press release didn’t mention any further details regarding the timing of the bidding.

Last August, Egypt's cabinet has approved five oil and gas drilling and exploration agreements with foreign companies, said Petroleum Minister Tarek El Molla.

Four of the deals are offshore Mediterranean gas exploration and drilling agreements between Egypt's state gas board EGAS and BP, Eni, Total, and Edison.

Egypt currently produces about 3.9 billion cubic feet of gas per day and imports another 1-1.1 billion cubic feet per day.