Posted by: mulrickillion | November 17, 2011

Egyptian General Petroleum Company Launches International Bid Round 2011

OilVoice, October 14, 2011 —

  • The bid round is offering 15 exploration blocks in the Gulf of Suez, Eastern Desert, Western Desert and Sinai sedimentary basins
  • The acreage encompasses more than 18,000 square kilometres, with a maximum total exploration duration of seven years per block

The Egyptian General Petroleum Corporation (EGPC) announced that it is inviting companies to bid for Production Sharing Agreements in its International Bid Round 2011.
The bid round is offering 15 exploration blocks in the Gulf of Suez, Eastern Desert, Western Desert and Sinai sedimentary basins. The acreage encompasses more than 18,000 square kilometres, with a maximum total exploration duration of seven years per block.
Bidders should submit their offers by the closing date of 30 January 2012.
Data packages available include both seismic and well information for each individual block, with the option to purchase additional navigation data. Data review fees total 10% of each data package price with data available for two days for individual blocks and a maximum of seven days for all blocks. Extra review days will incur an additional cost.
Further information on block specific fees, taxes, data room costs, block co-ordinates and additional data available for purchase, as well as model agreements, can be found
here.
A licensing round incorporating the Western Desert has been highly anticipated by the industry. This is the first licensing round in Egypt to follow the political unrest earlier in the year.

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OilVoice | Egyptian General Petroleum Company Launches International Bid Round 2011

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