6 firms win $600m gas exploration tenders in Egypt

6 firms win $600m gas exploration tenders in Egypt
Egypt’s petroleum minister Tarek El-Molla during the press conference

By: Ahmed Allam

Cairo – Mubasher: Egypt’s petroleum minister on Tuesday announced the results of the Egyptian Natural Gas Holding Co’s (EGAS) gas research and exploration bids with around $600 million in investments at 20 wells.

ExxonMobil has won a $10 million exploration tender in the northeast of Amreya area to drill 10 wells with $100 million in investments, Tarek El-Molla said in a press conference.

The UK’s BG Group Plc and Malaysia's state-run firm Petronas have won the North Sidi Gaber bid worth $10 million to conduct a 3D seismic survey and drill a well with around $60 million in investments, the minister said.

The two companies have been also awarded a bid in North Al-Fanar worth $9 million to conduct a 3D seismic survey of 2,250 square kilometres.

Meanwhile, DEA Group, IEOC Production BV, and BP Plc have been awarded $28 million and $18 million exploration tenders east Damanhur and west Sherbin, respectively, El-Molla added.

 

Translated by: Mai Ezz El-Din