As one bid round begins , another one ends: Four international oil and gas firms have received exploration blocks via the bid round launched by the state-owned Egyptian Natural Gas Holding Company last year, the Oil Ministry said in a statem ent on Tuesday.

Who gets what: Eni will receive two blocks in the Mediterranean, a consortium of Eni, BP and Qatar Energy will receive one concession in the Mediterranean, and Russian firm Zarubezhneft will receive one in the Nile Delta, according to the statement.

The companies will be required to invest a minimum of USD 281 mn,along with a USD 7.5 mn signing fee in the exploration period, the ministry said. They will also need to drill at least 12 wells in each block.

What happened to the rest of the blocks? The international bid round launched in Decem ber included eight other exploration blocks in the Mediterranean and Nile Delta. Eni, BP, Chevron, Shell, Energean, and Cheiron Petroleum all submitted bids for the tender, Asharq Business reported yesterday, citing a government official.

A long time coming: EGAS launched the four-month bid round in December but later extended it until July to give companies more time to submit offers.

The government has been ramping up exploration efforts: The Oil Ministry this week put another 23 exploration blocks up for auction as it tries to reverse declining production and draw new investment. The measures come following a decline in gas output, which fell to a three-year low in 2Q 2023, contributing to the ongoing electricity shortages.

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