Oil Ministry announces winners of Western Desert concession
Apache, Shell, and Apex among the winners of Oil Ministry’s Western Desert oil exploration tender: The Oil Ministry is expecting to sign contracts “soon” with the winners of its crude oil exploration tender in the Western Desert, Minister Tarek El Molla said, according to Youm7. Apache, Royal Dutch Shell, Apex International Energy and Merlon will together invest at least USD 160 mn and pay signature grants totaling USD 65 mn. They’all be drilling for oil in five concessions in the Western Desert, according to the minister.
Oil Ministry to launch oil exploration tenders in border with Saudi by year’s end: The ministry plans to commission more oil drilling in 2017 through Ganoub El Wadi Petroleum Holding Company, El Molla said. Five international firms have already been awarded contracts to begin conducting geological surveys and initial scans along the border with Saudi Arabia in the Red Sea. The ministry plans to open the floor to exploration activities in the area — which surrounds the contentious Tiran and Sanafir islands — before the year is up, AMAY quotes El Molla saying. Among them are WesternGeco Schlumberger and TGS, whose combined investment comes close to USD 750 mn.