{"id":324412,"date":"2022-01-11T11:31:04","date_gmt":"2022-01-11T11:31:04","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324412"},"modified":"2022-01-11T11:31:04","modified_gmt":"2022-01-11T11:31:04","slug":"egypt-awards-bp-eni-offshore-gas-exploration-concession","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/01\/11\/egypt-awards-bp-eni-offshore-gas-exploration-concession\/","title":{"rendered":"Egypt awards BP, ENI offshore gas exploration concession"},"content":{"rendered":"<p>Egypt has awarded BP and Eni a gas exploration concession in the eastern Mediterranean, the two companies announced in separate statements on Monday.<\/p>\n<p>Each company will have a 5 percent stake in the 3,200 square kilometres (1,236 square miles) concession located off Port Said, BP\u2019s North Africa manager Karim Alaa said.<\/p>\n<p>\u201cThe EGY-MED-E5 block \u2013 in which bp and Eni, the operator, each hold a 50% interest \u2013 reflects and reaffirms our commitment to invest in developing and finding new gas supplies for Egypt.\u201d Alaa <a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn%3Ali%3Aactivity%3A6886293250932649985\/\">said<\/a>.<\/p>\n<p>For Eni, the company said it has been awarded five new exploration licences. The licenses, four of which as operator, are in the Egyptian offshore and onshore, and follow the successful participation to the 2021 competitive \u201cEgypt International Bid Round for Petroleum Exploration and Exploitation\u201d. The bid was previously announced by the Egyptian General Petroleum Corporation and the Egyptian Natural Gas Holding Company through the Egypt Exploration and Production Gateway.<\/p>\n<p>\u201cThe licences are located in the Eastern Mediterranean Sea (Block \u201cEGY-MED-E5\u201d in partnership with BP 50 percent-50 percent and Block \u201cEGY-MED-E6\u201d IEOC 100 percent), in the Gulf of Suez (Block \u201cEGY-GOS-13\u201d IEOC 100 percent) and in the Western Desert (Blocks \u201cEgy-WD- 7\u201d in partnership with APEX 50 percent -50 percent and \u201cEGY-WD-9\u201d IEOC 100 percent) with a total acreage of about 8,410 sqkm.\u201d Eni statement read.<\/p>\n<p>The Italian company added that the licences are placed within prolific basins with proved petroleum systems able to generate liquid and gaseous hydrocarbons and can also rely on nearby existing producing and processing facilities and \u201con a demanding market that will allow a quick valorization of the potential exploration discoveries.\u201d<\/p>\n<p>The bid results are aligned with Eni\u2019s strategy to keep exploring and producing gas to sustain the Egyptian domestic market and contribute to LNG export, thanks to the recent restart of the Damietta LNG plant.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt has awarded BP and Eni a gas exploration concession in the eastern Mediterranean, the two companies announced in separate statements on Monday.<\/p>\n","protected":false},"author":4,"featured_media":319706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33],"tags":[427],"class_list":["post-324412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","tag-gas-exploration"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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