RWE wins Egyptian block

摘要

Germany's RWE Dea has been awarded a new offshore concession in Egypt following a 2011 bidding round, the latest international explorer to announce the award of new acreage. It has 80% and the operatorship of the East Ras Budran Offshore concession and Dove Energy holds the other 20%. The block was offered in the Egyptian General Petroleum Corporation (EGPC)'s 2011 international bid round that closed March 29, 2012. The block is situated adjacent to the company's operated production license Ras Budran in the Gulf of Suez near the shore of the eastern Gulf of Suez coast. "This new concession provides a valuable addition to our balanced oil and gas license portfolio in Egypt," RWE Dea Egypt general manager Maximilian Fellner said.