Egypt Education Platform's EEP Run raises funds for Gaza    IMF approves $1.5m loan to Bangladesh    China in advanced talks to join Digital Economy Partnership Agreement    Egypt's annual inflation declines to 31.8% in April – CAPMAS    Chimps learn and improve tool-using skills even as adults    13 Million Egyptians receive screenings for chronic, kidney diseases    Al-Mashat invites Dutch firms to Egypt-EU investment conference in June    Asian shares steady on solid China trade data    Trade Minister, Building Materials Chamber forge development path for Shaq El-Thu'ban region    Cairo mediation inches closer to Gaza ceasefire amidst tensions in Rafah    Taiwan's exports rise 4.3% in April Y-Y    Microsoft closes down Nigeria's Africa Development Centre    Global mobile banking malware surges 32% in 2023: Kaspersky    Mystery Group Claims Murder of Businessman With Alleged Israeli Ties    Egypt, World Bank evaluate 'Managing Air Pollution, Climate Change in Greater Cairo' project    US Embassy in Cairo announces Egyptian-American musical fusion tour    Japanese Ambassador presents Certificate of Appreciation to renowned Opera singer Reda El-Wakil    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    AstraZeneca injects $50m in Egypt over four years    Egypt, AstraZeneca sign liver cancer MoU    Swiss freeze on Russian assets dwindles to $6.36b in '23    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Climate change risks 70% of global workforce – ILO    Prime Minister Madbouly reviews cooperation with South Sudan    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EGAS launches international tender to search for gas by end of Q4 of 2016
Egypt currently produces 4.15bn cubic feet of gas per day, compared to 4.5bn cubic feet last year.
Mohamed Adel Published in Daily News Egypt on 06 - 12 - 2015

The Egyptian Natural Gas Holding Company (EGAS) launched an international tender for the exploration and search of crude oil and natural gas in several land and marine areas by the end of the fourth quarter (Q4) of 2016.
Chairman of EGAS, Khaled Abdel Badie, told Daily News Egypt in a statement that the committee concerned with launching tenders in EGAS is currently specifying the areas involved in the tender, on land and at sea, so all approvals from concerned authorities can be obtained.
He added that the upcoming tender will include deep marine areas in the Mediterranean in order to activate the search and exploration processes for oil and gas, as they are considered some of the most promising areas in Egypt.
Abdel Badie explained that launching international tenders for the search of crude oil and gas is part of the Ministry of Petroleum's strategy to attract new investments from international companies and to encourage them to work in this field in Egypt, adding new reserves and increasing petroleum production.
Egypt currently produces 4.15bn cubic feet of gas per day, compared to 4.5bn cubic feet last year.
Four offers for four sectors in the Mediterranean Sea were approved in a bid launched by EGAS at the beginning of 2015, with total investments of $306m, in addition to signature grants worth $10.5m to drill eight wells and perform 3D seismic scanning programmes.
Abdel Badie explained that companies that won the tender include BP and IEOC for sector four on North Ras Al-Ash Marine, in addition to the coalition formed by IEOC, BP, and the French Company Total for sector seven, on North Hammad Marine.
The offer by Italian company Addison for sector 12 on the Northeast Habi Marine was accepted, in addition to the offer from BP for sector 14 on the North Tabiya Marine, according to Abdel Badie. The offers made for the tender show there is demand, despite the current global decline in crude oil prices.

Clic here to read the story from its source.