Egypt Extends Mediterranean Gas Exploration Tender by Two Months
CAIRO, May 26 (Reuters) ? Egypt has extended its tender for natural gas exploration in the Mediterranean Sea by two months with the addition of four new blocks, the state gas board said on Tuesday, as the country seeks to boost domestic energy production.
The bidding period now runs to July 30 and will include 12 offshore concessions instead of eight, the Egyptian Natural Gas Holding Company (EGAS) said in an advertisement published in state-run Al Ahram newspaper.
Egypt is going through its worst energy crisis in decades, with increasing consumption and declining production turning the country from a net energy exporter to a net importer over the past few years.
The four additional blocks are Northeast Habi Marine, North Farma Marine, North Tabiya Marine and Northeast Amiriya Marine, EGAS said.
The 12 blocks together cover a total of 20,548 square km (7,934 square miles).
The foreign companies already exploring for oil and gas off Egypt's north coast include Italy's ENI and Britain's BP and BG.
