Egypt: Eni signs concession agreements for two new exploration blocks in the Egyptian Mediterranean
14 Jan 2015
As a result of the EGAS 2013 bid round, Eni signed two concession agreements for the North Leil and Karawan blocksoffshore Egypt.
Eni is the operator and holds 100% equity in North Leil and 50% equity in Karawan, where it partners with BP. The two blocks, which will be operated by Eni’s subsidiary IEOC, are located in the deepwater offshore of the Mediterranean, west of the Shorouk block, which Eni acquired last year. North Leil and Karawan blocks cover areas of 5,105 and 4,565 sq kms respectively.
The signature of these two new concession agreements follows that of Southwest Meleiha Block recently awarded, further strengthening Eni’s position in Egypt, a country of historic and strategic importance for the Company, and relaunching Eni’s exploration activities in the Egyptian’s offshore.
Eni has been present in Egypt since 1954 and is the main producer in the country with an equity of approx. 210,000 barrels of oil equivalent per day.
EGAS 2013 Bid Round Blocks (Source: EGAS)
Click here for information regarding Egypt's 2013 Bid Round
Source: Eni
Source: http://www.energy-pedia.com/news/egypt/new-162141
