Egypt offers offshore gas blocks in new round

摘要

State-owned Egyptian Natural Gas Holding Company, or Egas, has invited international oil and gas companies for a new bid round covering eight offshore exploration and production licenses in the Mediterranean Sea, the company announced Tuesday. A total area of almost 12,000 square kilometers is up for auction, as Egypt seeks to ramp up exploration to reverse declines in gas production, which fell to 5.42 Bcf/day in 2013, from a peak of 6.07 Bcf/day in 2009, according to UK oil major, BP.