O&GJ: Northern Egypt-Mediterranean license blocks awarded

Several operators reported having been awarded blocks in the Egypt Natural Gas Holding Co. 2012 international bid round held last week.

Eni SPA’s International Egyptian Oil Co. was awarded Shorouk Offshore Block 9, a 3,765 sq km deepwater exploratory parcel in the eastern Mediterranean. Eni will have 100% equity in Block 9, which lies in 1,400-1,800 m of water.

Dana Gas of Sharjah was awarded a 100% working interest in the North El Arish Offshore Block 6 concession covering 2,980 sq km in as much as 1,000 m of water in the Nile Delta.

The Block 6 concession has an 8-year exploratory period with a 4-year initial term followed by two 2-year extensions. A commercial discovery would trigger a 20-year development lease period. Block 6 lies on strike with recent large gas discoveries in the Levantine basin.

Dana Gas noted that it produced gas, condensate, LPG, and crude oil at an average 32,200 b/d of oil equivalent in 2012 from 10 Nile Delta fields “in spite of recent operational challenges.  MORE