EGYPT has launched its latest bid round with 12 blocks available in the Mediterranean Sea and the onshore Nile Delta that between them have the potential to house some 36 trillion cubic feet of gas. This licensing round follows hard on the heels of a 3.5 Tcf gas discovery made by Chevron in the offshore Nile Delta play and aims to stimulate more exploration in a country whose demand for gas continues to rise. The North African nation's growing economy and population need power, which in recent years has resulted in gas being imported from Israel, with insufficient gas available to fully feed two liquefied natural gas plants on the Mediterranean coast. The Ministry of Petroleum estimates that some 230 Tcf of gas remains to be discovered in Egypt's Mediterranean region, so the blocks offered in this round account for only 16% of this potential resource, leaving much to play for in the future. Announcing the round last week, Egypt's Petroleum Minister Tariq Al Mulla said gas exploration is needed in order to boost production at a time when natural gas is of "increasing importance" in the global energy mix. Bids must be submitted by the end of April this year for a dozen blocks. These include six onshore tracts - North El Nubariya, North El Khatatba, East Tanta, West Ismaila, South Abu Madi and South Damietta - in the Nile Delta which may have yet-to-find resources of up to 11 Tcf.
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