Egypt's Ministry of Petroleum will hold international bidding for oil and gas drilling rights in the western desert in August 2011. "Israeli companies are excluded from bidding," said a source in the Ministry of Petroleum. The source said all Egyptian companies that will participate in the bidding will be transferred to the National Security Agency to be investigated. Some foreign companies received permits to dig for gold in Egypt under the former regime. They received approval from Egypt's General Authority for Mineral Resources and were waiting for approval from the People's Assembly and the Shura Council, the lower and upper houses of parliament, before parliament was dissolved. Now, they are waiting for the Egyptian cabinet and ruling military council's approval. These companies threatened to end their investments in Egypt if they do not receive all necessary approvals for their agreements. Other drilling companies, which received approval for gold mining during the former regime, are waiting for cabinet and military council approval as well. They sent notes asking for approval but they did not receive any response yet. That may waste investments in Egypt that are estimated at $25 million. Some foreign companies, such as Russian Fritx and Canadian UNESCO drilling companies, have presented a request to Egypt's ruling military council asking it to follow through on agreements which were already approved by the People's Assembly and the Shura Council. They also asked the military council to issue a law in order to organize drilling companies' work. The investments of these companies stopped after the People's Assembly was dissolved.
