Eni Awarded Three New Exploration Licences in Egypt

Eni has been awarded three new oil and gas exploration licences in Egypt as a result of the competitive 2013 EGPC and EGAS bid rounds.

The new licences will be formally awarded soon, after the ratification and finalization of the concession agreements, Eni announced Thursday.

As a result of the EGPC bid round, Eni has been awarded a 100% participating interest and operatorship of the onshore block South-West Melehia. The block is located in Egypt’s Western desert, near the Melehia Development Lease, in which the company has a participating interest. The new licence covers an area of 2,058 sq kms.

As a result of the EGAS bid round, Eni will become the operator of Block 9 and Block 8, located in deep offshore waters of the Mediterranean Sea, near the boundary with Cypriot waters. The Italian energy major will hold 100% equity in Block 9, also named North Leil Offshore, which covers an area of 5,105 sq kms in water depths ranging from 2,100 to 2,800 meters.

In Block 8, also named Karawan Offshore, Eni will be partner with BP, with both companies holding a 50% equity interest. This licence covers an area of 4,565 sq kms in water depths ranging from 2,000 to 2,500 meters.