Egypt's EGAS awards six blocks to international companies in the Mediterranean, Nile delta and N. Sinai

According to a statement released by the petroleum ministry on Wednesday, Egypt's EGAS awarded four blocks to international companies in the Mediterranean Sea, one in Nile Delta, and one in North Sinai.

During the exploration period, companies will invest $245 million in order to drill at minimum 13 new exploratory holes.

A consortium consisting of Chevron Egypt? Shell's BG?Group won the North Samian and Northwest Atoll blocks, in which it will drill at least two exploratory oil wells.

Eni's IEOC was awarded the North Ras El Tin offshore Block with plans to drill 3 exploratory wells.

Chevron Egypt plans to drill three exploratory exploration wells on the East Alexandria offshore block. IPR will drill another two in North Tanta, and Perenco is planning a 3D seismic survey as well as drilling an exploratory exploratory in El Fayrouz block onshore in North Sinai.

On Tuesday, Egypt signed two oil exploration contracts to increase its oil and natural gas production.

Separate statements from the petroleum ministry revealed that one of the contracts was with Russia's Lukoil Overseas Egypt Limited, to conduct a 3D survey and drill six exploration wells in Eastern Desert. The other contract was with Saudi Arabia's Ardiseis Egypt branch, to conduct seismic surveys in Western Desert. Reporting by Mohamed Ezz Editing Tomaszjanowski

(source: Reuters)