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Project Insights

IOCs prepare for Egypt’s first bidding round of 2016

Egypt has released the licensing documents for its upcoming bidding round – which it postponed from January in the hope that oil prices would pick up Egypt has released the licensing documents for its upcoming bidding round – which it postponed from January in the hope that oil prices would pick up.
By Rachel Williamson 19 May 2016 Middle East & Africa / Exploration & Production 0 20364
A number of IOCs have taken part in Egyptian bidding rounds since Cairo introduced new terms in 2013. (Petroceltic)

Cashed-up IOCs are taking a good look at Egypt’s first bidding round of the year after the licensing documents were released on Tuesday.

Egyptian General Petroleum Co. (EGPC) announced the round of 11 blocks last week, with five in the Gulf of Suez and six in the oil- and gas-rich Western Desert.

EGPC generally arranges concessions in oil-rich areas while Egyptian Natural Gas Co. (EGAS) tends to handle those that are more focused on gas. State-owned Ganope manages concessions in the south of Egypt.

IOCs that...