Egypt to bid for gas exploration in the Mediterranean in the first half of 2020
Economy News - Baghdad
CAIRO (Reuters) - Egypt's natural gas holding company EGAS plans to launch a global gas exploration bid in the western Mediterranean region in the first half of 2020, an unnamed Egyptian natural gas official said on Monday.
Italy's Eni discovery of the field appeared in 2015, which contains reserves of 30 trillion cubic feet of gas, opened the appetite of the government to launch new bids.
The newspaper added that EGAS "is currently working on determining the areas to be offered during the auction and obtaining approvals for the process of offering."
Egypt has in the past few years demarcated its maritime border with some countries in order to explore for gas and oil without conflict.