Edison gives up exploration rights in North East concessions

Italy’s Edison has forfeited its natural gas exploration rights in North East concessions Hapi and Theqa, local news reported. A new international tender for the concessions will be launched next year, an Oil Ministry source said, without specifying a time frame. Edison signed a USD 86 mn agreement with EGAS in January 2017 for E&P operations. Oil Minister Tarek El Molla said in July the Italian company would begin drilling exploratory wells at the concessions in 2H2019.