Egypt invites bids for ten offshore blocks in Red Sea

Egypt’s Ministry of Petroleum and Mineral Resources has offered 10 offshore blocks in the Red Sea to interested oil and gas companies.

In a statement on Sunday, Ganope, entity of the ministry charged with managing and stewardship of all aspects related to petroleum activities of the Red Sea said the blocks are being offered “ for the first time, within the context of the Ministry of Petroleum’s strategy to achieve the optimum economic utilization of all potentials and natural resources to contribute to the sustainable development of Egypt.“

The interested companies have been given until August 1, 2019, at 12:00 pm, Cairo local time, to submit their bids, said Ganope, an entity established by Egyptian Petroleum Ministry to manage and supervise all petroleum activities under latitude line 28º. Each of the ten blocks on offer is around 3000 square kilometers big.

Interested companies will need to have documents proving the company’s previous exploration experience and activities all over the world including development projects, petroleum production, reserves and latest used technology supplemented by the company’s Annual Report.

As for the commercial parameters, Egypt plans to apply the Production Sharing model based on production rates.

To remind, Egypt in February, awarded offshore and onshore blocks to Shell, ExxonMobil, BP, Eni, DEA, Neptune, Total, Petronas, and Neptune.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Beijing International Offshore Oil & Gas Exhibition (ciooe) 2019

Beijing International Offshore Oil & Gas Exhibition (ciooe), is a regular gathering in oil & gas industry…

read more >

Lebanon International Oil & Gas Summit 2019

LIOG 2019 will delve further into the opportunities that are present in Lebanon’s energy sector…

read more >

Atyrau Oil & Gas 2019

The event program is dedicated to the most topical issues of search, exploration, development of hydrocarbons…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply