Eni awarded three exploration blocks in Egyptian bid rounds

EniThe license areas are in Egypt’s Western Desert and in the deep waters of the Mediterranean Sea. (Image source: Luca Mascaro/Flickr)Eni has won three new exploration licenses in Egypt following the 2013 Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS) bid rounds in the North African country

The new licenses will be formally awarded after the ratification and finalisation of the concession agreements, the Italian company said.

For the EGPC bid round, Eni has been awarded a 100 per cent 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 license covers an area of 2,058 sq km.

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.

Eni will hold complete equity in Block 9, named North Leil Offshore, which covers an area of 5,105 sq km in water depths ranging from 2,100 metres to 2,800 metres.

Eni will partner with BP, with both companies holding a 50 per cent equity interest each. This license covers an area of 4,565 sq km in water depths ranging from 2,000 metres to 2,500 metres.

Claudio Descalzi, CEO of Eni, said, “I am pleased with the acquisition of these new exploration permits which further strengthens our presence in Egypt.”

Eni is currently the largest international energy player in the country, with a hydrocarbon equity production of approximately 220,000 boepd.

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