Egypt extends gas exploration tender by 2 months and adds 4 blocks

The Egyptian Natural Gas Holding Company (EGAS), Egypt's state gas board, has extended by two months its tender for gas exploration in the Mediterranean Sea, while adding four new blocks for exploration, namely Northeast Habi Marine, North Farma Marine, North Tabiya Marine and Northeast Amiriya Marine. The tender will now include 12 offshore blocks, instead of eight (West Arish Marine, East Port Said Marine, North Rumana Marine, North Ras al-Ash Marine, West al-Timsah Marine, South Taneen Marine, North Hammad Marine and East Alexandria Marine). It will now run until 30 July 2015.

Egypt is facing a severe energy crisis with declining gas production and rising consumption; the country has now become a net energy importer and is seeking to tackle energy shortages by encouraging domestic hydrocarbon production, building new energy infrastructures (LNG import terminal and power plants) and by raising energy prices.