Minimum investment in Petroleum Authority, EGAS bids amounts to $750M


Tue, 12 Feb 2019 - 02:13 GMT

FILE – Tarek el-Molla

FILE – Tarek el-Molla

CAIRO – 12 February 2019: The minimum investment in bids offered by the Egyptian Natural Gas Holding Company (EGAS) and the General Petroleum Corporation recently amounted to about $750 million, Minister of Petroleum Tarek el-Molla said during the second day of “EGYPS 2019”.

Molla also announced that Shell Egypt NV Company won five sectors of EGAS biddings.
The minister also announced the win of Petroleum and Ieoc Production BV companies in the auction which included 11 sectors in all areas of the General Petroleum Corporation, with five sectors being in the Western Desert, two sectors in the Nile Valley, three sectors in the Gulf of Suez and one sector in the Eastern Desert.

On Monday, Prime Minister Moustafa Madbouli opened - on behalf of President Abdel Fatah al-Sisi - the Egypt Petroleum Show (EGYPS 2019).

EGYPS 2019 brings together Egyptian and North African government representatives, key project owners, NOCs and IOCs, International Service Providers, Engineering, Procurement & Construction Companies, EPC contractors, consultants and financiers to address the evolving opportunities in the Egyptian and North African energy arena.



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