Results of the 2016 EGPC International Bid Round, in which 11 blocks were offered for oil and gas exploration in the Western Desert and the Gulf of Suez, were announced by the Ministry of Petroleum in a press release on Friday.
The bids are worth a total minimum investment of $200 million, $68.2 million signature bonuses and the drilling of 33 exploration wells.
Of the 11 blocks offered, six blocks were awarded; five in the Western Desert and one in the Gulf of Suez.
Gulf of Suez Blocks:
- Block 1 – North East October (254 sq km): Not Awarded.
- Block 2 – North Issran Offshore (404.6 sq km): Not Awarded.
- Block 3 – North East El Hamd (359 sq km): Not Awarded.
- Block 4 – North East Ramadan (219 sq km): Awarded to BP, with a minimum investment of $46 million, a signature bonus of $5 million, and drilling of 3 exploration wells.
- Block 5 – East Badri (171 sq km): Not Awarded.
Western Desert Blocks:
- Block 6 – North West Razzak (4,764 sq km): Awarded to Apache Corporation, with a minimum investment of $60.6 million, a signature bonus of $30 million, and drilling of 10 exploration wells.
- Block 7 – South Alam El Shawish (1,591.5 sq km): Awarded to Apache Corporation, with a minimum investment of $12 million, signature bonus of $10 million, and drilling of 4 exploration wells.
- Block 8 – West Badr El Din (4,179.5 sq km): Awarded to Apex International Energy, with a minimum investment of $19.4 million, a signature bonus of $1.7 million, and drilling of 3 exploration wells.
- Block 9 – South East Meleiha (2,534.6 sq km): Awarded to Apex International Energy, with a minimum investment of $26.5 million, a signature bonus of $3.5 million, and drilling of 6 exploration wells.
- Block 10 – South East Siwa (2,828.7 sq km): Not Awarded.
- Block 11 – North Umbaraka (5,623.7 sq km): Awarded to Royal Dutch Shell, with a minimum investment of $35.5 million, signature bonus of $18 million, and drilling of 7 exploration wells.
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