EGAS announced the result of the 2015 international exploration Mediterranean bid round. The results included four bids for four blocks in the Mediterranean, with minimum investments of at least $306 million and a signature bonus of $10.5m to drill 8 wells and conduct 3D seismic studies.
Eng.Khaled Abdel Badie , Egas Chariman explained in a report presented to Eng. Tarek El Molla, Minister of Petroleum & Mineral Resources that Block 4, North Ras El Esh was awarded to BP and IEOC. In addition, IEOC, BP, and Total were awarded Block 7, in the North El Hammad area. Italy’s Edison was awarded Block 12, Northeast Hapy, and BP was awarded Block 14, North El Tabya.
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