Ganope, the arm of Egypt state firm EGPC focused on attracting exploration to the south of the country, on 9 March launched a bid round for 10 Red Sea blocks, each just over 3,000km². Water depths are 50 to 1,500ms with bidding closing 1 August.
Along with virgin acreage in the Mediterranean north of the Western Desert, this new bid round forms part of Egypt’s oil ministry’s push to attract investors in unexplored or underexplored regions of the country. (CONTINUED - 870 WORDS)
