{"id":607148,"date":"2023-09-27T00:00:00","date_gmt":"2023-09-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/27\/four-international-companies-awarded-oil-and-gas-exploration-blocks\/"},"modified":"2023-09-27T00:00:00","modified_gmt":"2023-09-27T00:00:00","slug":"four-international-companies-awarded-oil-and-gas-exploration-blocks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/27\/four-international-companies-awarded-oil-and-gas-exploration-blocks\/","title":{"rendered":"Four international companies awarded oil and gas exploration blocks"},"content":{"rendered":"

As <\/strong>one bid round begins<\/a><\/strong> , another one ends: <\/strong> 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<\/a> statem<\/a> ent<\/a> on Tuesday.<\/p>\n

Who gets what: <\/strong> 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. <\/p>\n

The companies will be required to invest a minimum of USD 281 mn<\/strong>,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.<\/p>\n

What happened to the rest of the blocks? <\/strong>The international bid round launched in<\/a> Decem<\/a> ber<\/a> 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<\/a> reported yesterday, citing a government official. <\/p>\n

A long time coming: <\/strong> EGAS launched the four-month bid round in December but later extended it until July<\/a> to give companies more time to submit offers. <\/p>\n

The government has been ramping up exploration efforts: <\/strong>The Oil Ministry this week put another 23 exploration blocks up for auction<\/a> 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<\/a> in 2Q 2023, contributing to the ongoing electricity shortages.<\/p>\n","protected":false},"excerpt":{"rendered":"

Four concessions were handed to Eni, BP, Qatar Energy, and Zarubezhneft<\/p>\n","protected":false},"author":1,"featured_media":607149,"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":[7207],"tags":[196,7135,93,197,72,125,91,371,8881,11633],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-607148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-bp","tag-egas","tag-energy","tag-eni","tag-enterpriseam","tag-investment-watch","tag-oil-and-gas","tag-oil-ministry","tag-qatar-energy","tag-zarubezhneft","wpautop","entry"],"acf":{"mongo_id":"04355c3e-c3d0-496e-ad31-31632bf594a2","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1599.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt awards four oil and gas exploration blocks to int\u2019l firms","related_issue":[607137],"teaser":"Four concessions were handed to Eni, BP, Qatar Energy, and Zarubezhneft","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.652176ab-f57d-4675-af27-7a8151ef4f3e.mp3"},"yoast_head":"\nFour international companies awarded oil and gas exploration blocks - 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BP, Eni, Apex International, Energean Egypt, United Energy, Ukraine\u2019s INA Naftaplin, and Chile\u2019s Enap Sipetrol all received\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\/2022\/1\/43.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547629,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/29\/bp-gets-a-new-mediterranean-gas-block\/","url_meta":{"origin":607148,"position":1},"title":"BP gets a new Mediterranean gas block","author":"enterpriseam admin","date":"29 June 2022","format":false,"excerpt":"BP lands new gas exploration rights in Mediterranean: Egypt awarded BP an offshore exploration block in the western Mediterranean\u2019s King Mariout Offshore concession, giving it 100% of the exploration rights for the area, the company said in a statement (pdf). 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The government plans to launch a new global tender for oil and gas exploration before June, Bloomberg Asharq reported Oil Minister Tarek El Molla as saying during a press conference yesterday. No further details were disclosed on\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\/2022\/1\/343.jpg?fit=%2C&ssl=1&resize=350%2C200","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":607148,"position":5},"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. 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