West Arish Marine, East Port Said Marine, North Rumana Marine, North Ras al-Ash Marine, West al-Timsah Marine, South Taneen Marine, North Hammad Marine, and East Alexandria Marine are the eight blocks for auction and they cover an area of 11,849 square kilometres.
Egypt’s government has speeded up tenders for exploration and production blocks and improved the terms for deals to attract major energy companies, as it seeks to boost production to put a stop to the persistent energy shortages.
The rising demand for energy and decreasing output have turned Egypt from an exporter into a net importer. The country has at the moment has three exploration and production agreements under way worth $9.2 billion, the oil ministry and signed 15 new exploration deals in January.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
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