General Petroleum Company launch International Bid Round in Egypt
In October 2010, the General Petroleum Company (GPC), the exploration subsidiary of the Egyptian General Petroleum Corporation (EGPC), launched an International Bid Round for seven blocks in Egypt.
Oil and Gas Exploration and Production Service Agreements (EPSA’s) are on offer for five onshore blocks and two offshore blocks. The onshore concessions comprise of Sudr, Asl and Matarma, located on the Sinai Peninsula and Ras El Bahar-Gemsa and Esh El Mellaha found further south in the Gulf of Suez geological basin. The offshore concessions include the FF-GG and HH blocks in the North Amer area, also in the Gulf of Suez.
|Blocks offered in GPC Bid Round 2010|
|Block name||Area offered (sqkm)||Bid close date|
|RAS EL BAHAR-GEMSA||45.08||20/02/11|
|ESH EL MELLAHA||15.36||20/02/11|
|FF & GG||120.98||20/02/11|
Bidders are invited to apply for one or more of the areas to be developed, with final bids to be submitted by 12 noon (Cairo time) on 20 February 2011. The bid round brochure is available from the GPC head office in Cairo from 17 October with the Data Room opened to interested bidders on the same day. The brochure on offer includes the announcement, procedures, terms and conditions, technical report and service model agreements. The brochure can be bought for $500 USD, with entry to the Data Room charged at $1,000 USD/day. Final bids will need to be submitted in two sealed envelopes, with a payment of $50,000 USD as a bid bond for each area.
This is the first round recently offered by GPC; previous rounds have been presented through EGPC, the Egyptian Natural Gas Holding Company (EGAS) and Ganoub El Wadi Petroleum Holding Company (Ganope).
Blocks on offer from GPC (red shading) as part of the 2010 International Bid Round. Source: PetroView®
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