Egypt’s announces new oil tender for the Gulf of Suez
The Egyptian General Petroleum Corporation (EGPC) recently published a tender inviting petroleum exploration companies to develop oil and gas in the Gulf of Suez LL 87 Block 1 and 2 under the Production Sharing System of Agreements. The tender’s closing date is set for April 24, confirmed and EGPC statement.
International petroleum companies have doubled their investments in natural gas exploration and oil field development in Egypt over the past year, reported Al-Ahram. Companies are not confining their interest to traditional areas such as the Delta, the Gulf of Suez and the Western Desert but have extended to the deep waters of the Mediterranean Sea where four giant rigs are now operating. — (menareport.com)
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