ENERGY

Egypt extends bidding for 10 oil blocks by 2 months

Egypt wants to attract more international firms to explore for oil and gas to help the country cope with its worst energy crisis in decades. (Shutterstock)

Egypt extended the deadline for companies to bid for 10 oil exploration concessions to May 31 from March 31, state-owned Ganoub El Wadi Petroleum Holding Company (Ganope) said on Monday.

Egypt wants to attract more international firms to explore for oil and gas to help the country cope with its worst energy crisis in decades.

Ganope "announces for extension the closing date of its international bid round 2014 (10 block) for two months," a statement on the company's website said.

It did not give a reason for the extension. The firm was not immediately available for comment.

The 10 blocks are West Gebel el-Zeit, Southeast Ras el-Ush, Northeast Geisum, North Magawish, Northwest Shadwan, Northwest Sea Bird, North al-Baraka, South al-Baraka, Southeast Qena, and Kharit, the statement from Ganope said.

Ganope is one of five state-owned oil firms under the oil ministry and is responsible for the south of the Nile Valley.

 

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Last Update: Monday, 9 March 2015 KSA 12:04 - GMT 09:04
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Egypt extends bidding for 10 oil blocks by 2 months
Egypt wants to attract more international firms to explore for oil and gas to help the country cope with its worst energy crisis in decades
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