EGPC Has Assigned Exploration Licenses for Blocks Offered in its 2011 Bid Round

摘要

Egyptian General Petroleum Corporation (EGPC) has assigned exploration licenses to several companies following the international exploration bid round it launched in September 2011, in which 15 blocks were offered to the industry (AOG, 1 Oct.). In October the Chairman of EGPC, Mr. Hani Dahi, had announced that, after conducting a technical and economic evaluation of the 25 bids submitted, 11 licenses had been awarded. He indicated that the agreements to be signed after the bids have been approved by the relevant authorities would call for total spending of $289 million during the initial exploration period (AOG, 1 Nov.). The eight companies selected already have interests in Egypt.