UPDATE 1-Egypt offers oil and gas blocks in 2009 bid round

Thu Jul 9, 2009 8:44am EDT
 
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CAIRO, July 9 (Reuters) - Two state-owned Egyptian companies said on Thursday they were offering oil and gas exploration blocks in bid rounds for 2009.

The Egyptian General Petroleum Corporation (EGPC) is offering eight exploration blocks, while Ganoub El Wadi Petroleum Holding Company (Ganope) said it was offering three blocks, according to statements on the companies' websites.

The deadline for bids is Nov. 1 at 12.00 p.m. Cairo local time (1000 GMT).

The blocks on offer are located in the Gulf of Suez and the South Eastern Desert, the statements said.

EGPC had said in May it would offer 15 to 20 blocks in the Western Desert and the Gulf of Suez in its 2009 bid round.

In the last bid round launched by Egypt in September 2008, state-owned Egyptian Natural Gas Holding Company (EGAS) awarded blocks to BG Group (BG.L), Royal Dutch Shell (RDSa.L), BP (BP.L), Petronas [PETR.UL], Enel (ENEI.MI) and Total (TOTF.PA).

Egypt's proven natural gas reserves rose to around 76 trillion cubic feet in the 2007/08 fiscal year, while reserves of crude oil and condensates rose to 4.189 billion barrels, according to the government. (Writing by Maha El Dahan, editing by Peter Blackburn)

 

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