Gulf Oil and Gas accountACCOUNT

France's Total Wins Egypt Gas Exploration Licence

Source: Reuters 9/29/2014, Location: Africa

French oil company Total has been awarded a licence to explore for natural gas in the Nile Delta, a source in the state-run Egyptian Natural Gas Holding company (EGAS) said.

"France's Total won the bid to explore in Sector 2 in the Delta region," the source told Reuters on condition of anonymity.

In December, Egypt's General Petroleum Corporation (EGPC) and Natural Gas Holding Company (EGAS) announced an international auction for oil and gas exploration concessions in accordance with production sharing agreements.

The concessions are for areas in the Suez Canal, Egypt's western desert, the Mediterranean sea and the Nile Delta.

In addition to Total, Dana Gas, BP, Eni , Petroceltic and Edison have won concessions in the Mediterranean Sea and the Nile Delta.

Germany's RWE has won two exploration blocks in the Gulf of Suez, while Tunisia's HBSI, Canada's TransGlobe and Italy's Edison secured five blocks in Egypt's western desert.

Egypt has been struggling with soaring energy bills caused by the high subsidies it provides on fuel for its population of 85 million. The subsidies have turned the country from a net energy exporter into a net importer over the last few years.

Egypt has started repaying some of its debt to foreign oil companies, which had reached more than $6 billion.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Acquisitions and Divestitures News in Egypt >>

Indonesia >>  9/12/2019 - Lion Energy previously announced on December 12, 2018 that it entered into a conditional sale and purchase agreement ('SPA') with Gulf Petroleum Inves...
Brazil >>  9/11/2019 - Petro-Victory Energy Corp. is delighted to announce that following successful participation and bidding in the Agencia Nacional do Petroleo Gas Natura...

Brazil >>  9/10/2019 - The ANP held the public session of the 1st Cycle of the Permanent Offer, which was attended by the Minister of Mines and Energy, Bento Albuquerque, AN...
Congo >>  9/9/2019 - New Age (African Global Energy) Limited announces that its subsidiary New Age M12 Holdings Limited has completed the sale of its 25% non-operated inte...

United States >>  9/3/2019 - W&T Offshore, Inc. (WTI) (W&T) announced that it has closed the previously-announced purchase of ExxonMobil Corporation’s (ExxonMobil) interests in an...
United States >>  9/3/2019 - Concho Resources Inc. (CXO) (Concho) announced that it has entered into a definitive agreement to sell its assets in the New Mexico Shelf (the “Shelf”...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.