Seventeen international oil companies have obtained documents of the fourth tender launched by the Egyptian Ganoub El Wadi Holding Petroleum Company (Ganope) earlier this year, said Hassan Akl, chairman of Ganope, on Tuesday.
Akl pointed out that when the areas under the recent tender are assigned, about 50 percent of Ganope’s work area will have been covered by concessions, which will account for 26 per cent of Egypt’s total area.
The recent tender comprises eight areas in the Western Desert on the Egyptian borders with Libya, in the Southeastern Desert on the Egyptian-Sudanese frontiers, and in Northern Red Sea area.
“Ganope is also planning to launch two international tenders covering twelve areas, or 25 percent of the company’s work area, Akl said.
Ganope had launched three international bids through which it concluded seven oil exploration agreements with companies from Canada, UK, UAE, and Australia with total expenditure commitments of $91 million and signature grants of $5.6 million.
The company’s chairman expects the new tender to draw interest of international bidders as Ganope-sponsored surveys have showed positive results for probable oil reserves in the offered concessions.
Ganope is one of four state-run oil companies. The company was launched in 2003 to oversee oil exploration efforts in the southern parts of Egypt. Noozz
