The Egyptian Ministry of Petroleum and Mineral Resources has officially unveiled the winners for the 2022 Egyptian Natural Gas Holding Company (EGAS) International Bid Round.
Four of the 12 blocks up for grabs went to three companies. The Italian explorer, ENI, secured two (2) blocks (N. Port Fouad and South Nour). In a strategic alliance, ENI and QatarEnergy jointly clinched the third block, East Port Said. The fourth block was awarded to Zarubezhment, a Russian energy company.
The acreages on offer in this particular round, initially disclosed in December 2022, are entirely located in the Mediterranean Sea and the Nile Delta.
Participation in the bidding process was limited to companies connected to Egypt Upstream Gateway (EUG), a National Data Repository established in February 2021.
Egyptian authorities portray EUG as “a pivotal tool for safeguarding exploration and production (E&P) data, actively managing important information, and promoting prospects in the upstream sector through international bid rounds”. Approximately 25 companies, comprising both majors and independents, were eligible to participate.
The deadline for submission of bids was set for April 30, 2023. The blocks made available during this round included N. Habata, N. Agiba, East Alexandria, North El Nubariya, North El Khataba, South Abu Madi, N. Port Fouad, South Nour, East Port Said, South Damietta, East Tanta, and West Ismalia.