{"id":601806,"date":"2019-03-11T04:22:25","date_gmt":"2019-03-11T04:22:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/"},"modified":"2019-03-11T04:22:25","modified_gmt":"2019-03-11T04:22:25","slug":"egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/","title":{"rendered":"Egypt announces Red Sea oil and gas bid rounds for 10 offshore blocks"},"content":{"rendered":"

<\/a> The scramble to drill for oil and gas in the Red Sea just got underway:<\/b> The South Valley Egyptian Petroleum Holding Company (Ganope) has launched a tender for 10 oil and gas exploration blocks<\/a> off the Red Sea coast under a new production sharing contract, according to a company statement (pdf)<\/a>. There is detailed information (pdf)<\/a> on the bid round available on Ganope\u2019s website. The launch of the tender came following the completion of seismic scans in the area by Schlumberger, Norway\u2019s TGS and three other oil companies. Schlumberger\u2019s data<\/a> suggests there is a high probability of natural gas discoveries, noting that the seafloor resembles the gas-rich terrain of neighboring Saudi Arabia.<\/p>\n

Just in time: <\/b>The tender was expected back in December but was delayed just long enough to take place under new production sharing contracts<\/a>, which took effect this quarter. The new friendlier terms would see companies bear the cost of exploration and production in return for a share of the output, which will vary from one concession to another based on the cost of investment. They also allow companies to sell their share of production to any entity of their choosing, as opposed to the current system, which gives them only one-third of output and allows the government to buy the producer\u2019s entire share at predetermined prices.<\/p>\n

This is clearly not the time for a company to pursue LNG imports:<\/b> On the natural gas front,private sector companies seeking to import LNG for the local market have put their plans on hold now that Egypt is exporting surplus gas, according to a domestic press report<\/a> citing an oil ministry official. The Natural Gas Regulatory Authority, which issued 18 licenses for gas import and distribution last week<\/a>, has not handed a single import license to a private sector company. The ministry has signalled it is willing to extend preliminary import approvals for companies including BB Energy, Fleet Energy, and Qalaa Holdings\u2019 TAQA Arabia.<\/p>\n","protected":false},"excerpt":{"rendered":"

The scramble to drill for oil and gas in the Red Sea just got underway: The South Valley Egyptian Petroleum Holding Company (Ganope) has launched a tender for 10 oil and gas exploration blocks off the Red Sea coast under a new production sharing contract, according to a company statement (pdf). There is detailed information […]<\/p>\n","protected":false},"author":1,"featured_media":601807,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[93,72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-energy","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d8fee4fc-7379-49d4-b7b4-0b4e73aeefb9","is_powered_by":true,"section_story_id":"6fa5747a-5d37-48b8-b794-23239acabeba","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/3\/1575.jpg","photo_position":"above","related_issue":[601799],"teaser":"","voice_url":""},"yoast_head":"\nEgypt announces Red Sea oil and gas bid rounds for 10 offshore blocks - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt announces Red Sea oil and gas bid rounds for 10 offshore blocks\" \/>\n<meta property=\"og:description\" content=\"The scramble to drill for oil and gas in the Red Sea just got underway: The South Valley Egyptian Petroleum Holding Company (Ganope) has launched a tender for 10 oil and gas exploration blocks off the Red Sea coast under a new production sharing contract, according to a company statement (pdf). There is detailed information […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-11T04:22:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/3\/1575.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt announces Red Sea oil and gas bid rounds for 10 offshore blocks\",\"datePublished\":\"2019-03-11T04:22:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/\"},\"wordCount\":338,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/3\/1575.jpg?fit=%2C&ssl=1\",\"keywords\":[\"energy\",\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/11\/egypt-announces-red-sea-oil-and-gas-bid-rounds-for-10-offshore-blocks\/\",\"name\":\"Egypt announces Red Sea oil and gas bid rounds for 10 offshore blocks - 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One block went to Chevron,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602415,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/27\/egypt-puts-eased-rules-for-energy-companies-to-use-their-production-share-from-new-red-sea-concessions\/","url_meta":{"origin":601806,"position":1},"title":"Egypt puts eased rules for energy companies to use their production share from new Red Sea concessions","author":"enterpriseam admin","date":"27 March 2019","format":false,"excerpt":"Companies awarded concessions in Red Sea bid round can sell at home or abroad: The South Valley Egyptian Petroleum Holding Company (Ganope) will allow companies awarded concessions in the ongoing Red Sea bid round to decide what to do with their share of output, Al Shorouk reports. Companies looking to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591438,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/05\/winners-of-red-sea-ep-bid-round-announced-this-month-el-molla\/","url_meta":{"origin":601806,"position":2},"title":"Winners of Red Sea E&P bid round announced this month -El Molla","author":"enterpriseam admin","date":"5 December 2019","format":false,"excerpt":"The Oil Ministry will announce the winners of the Red Sea exploration and production bid round this month, Minister Tarek El Molla told Youm7. The tender comprises 10 oil and gas exploration blocks, and was launched by the South Valley Egyptian Petroleum Holding Company (Ganope) back in March.","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622018,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/25\/us-firms-interested-in-egypts-offshore-oil-gas-exploration-tenders\/","url_meta":{"origin":601806,"position":3},"title":"US firms interested in Egypt\u2019s offshore oil, gas exploration tenders","author":"enterpriseam admin","date":"25 November 2018","format":false,"excerpt":"Several US oil companies have expressed their interested in developing Egypt\u2019s offshore oil and natural gas resources and are expected to bid in the sale of exploration blocks in the Red Sea, Oil Minister Tarek El Molla said yesterday, without naming specific companies, according to Reuters. An exploration and production\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598641,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/egas-to-auction-up-to-11-gas-exploration-blocks-in-egypts-west-med-by-1q2020\/","url_meta":{"origin":601806,"position":4},"title":"EGAS to auction up to 11 gas exploration blocks in Egypt\u2019s West Med by 1Q2020","author":"enterpriseam admin","date":"30 May 2019","format":false,"excerpt":"EGAS plans fresh WestMed gas exploration tender: The Egyptian Natural Gas Holding Company (EGAS) plans to put some 11 natural gas exploration blocks in the western Mediterranean up for auction by 1Q2020, a source from the company told Al Shorouk. EGAS has finalized studies and seismic scans, and is waiting\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597310,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/22\/red-sea-gas-scramblers-have-until-mid-september-to-submit-bids-to-egypts-ganope\/","url_meta":{"origin":601806,"position":5},"title":"Red Sea gas scramblers have until mid-September to submit bids to Egypt\u2019s GANOPE","author":"enterpriseam admin","date":"22 July 2019","format":false,"excerpt":"Scramblers have until mid-September to submit bids for Red Sea exploration: The South Valley Egyptian Petroleum Holding Company (Ganope) has extended to mid-September the deadline for submitting bids in its tender for 10 oil and gas exploration blocks off the Red Sea, an unnamed Oil Ministry official said. The deadline,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/601806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=601806"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/601806\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/601799"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/601807"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=601806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=601806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=601806"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=601806"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=601806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}