Egypt's SCZONE eyes deeper investment, port digitalisation ties with Singapore    Egypt's gold prices slip slightly on July 28th    Egypt's Housing Min. reviews HDP marketing plan    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egypt, South Africa pledge to deepen development cooperation at G20 meeting    Egypt's PM orders road maintenance review, tougher penalties to curb accidents    Egypt, Novartis explore expanding collaboration in oncology, cardiology    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    EU, China agree on rare earths, climate but divisions remain on trade, Ukraine    Association of Real Estate Developers seeks urgent meeting over threatened land deallocation on Northwest Coast    Midar partners with Adeer to develop Boulevard project in Mostakbal City with EGP 70bn investment    Iran launches mass deportation of Afghans amid spying allegations    Over 60 million visits recorded under Egypt's Women's Health Initiative since 2019    Culture minister launches national plan to revive film industry, modernise cinematic assets    Thailand, Cambodia clash on new front as tens of thousands flee    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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.



Ganoub El Wadi to float tender for oil exploration in 10 Red Sea sites
Importance of providing necessary data to start exploration activity in region, allow international companies to better assess opportunities, prospects of oil, gas reserves
Mohamed Adel Published in Daily News Egypt on 03 - 01 - 2019

The Ganoub El Wadi Petroleum Holding Company intends to launch its first international tender for oil and gas exploration in 10 Red Sea sites during the first quarter (Q1) of this year.
A source from the company informed Daily News Egypt that the tender was previously scheduled for 2018, but was delayed until the finalisation of the required approvals.
He pointed out that the Red Sea is one of the most promising virgin areas and requires extensive exploration activity.
He explained that the tender is based on the results of the geophysical survey conducted in the Red Sea, in cooperation between Ganoub El Wadi and Schlumberger International.
The source referred to the collection of two-dimensional seismic data with new techniques, after the completion of the seismic survey and the collection of data about Egyptian economic waters in the Red Sea of an area exceeding 10,000km, with investment of $750m.
He stressed the importance of providing the necessary data to start exploration activity in the region and to allow international companies to better assess the opportunities and prospects of oil and gas reserves in the Red Sea.
Furthermore, the source added that the ministry of petroleum prepared an ambitious plan to put the Red Sea on the map of investment to achieve new discoveries similar to the Mediterranean fields to support the production of oil and gas in Egypt.
“The agreement on demarcation of the maritime border in the Red Sea region with Saudi Arabia allowed Egypt to start the oil activity in the Red Sea for the first time. The project of developing and modernising the sector is currently under way to develop the model of petroleum agreements and facilitate procedures to encourage investments in the Red Sea region and attract new international companies,” said Minister of Petroleum, Tarek El-Molla, in previous remarks.
He added that the ministry is taking several steps to increase the attraction of investments in the field of research and exploration of oil and gas through the new seismic projects in the Red Sea, Gulf of Suez, and the Western Mediterranean. In addition, the ministry is setting up an electronic portal for marketing of oil exploration, which will contribute to attracting international companies.

Clic here to read the story from its source.