Egypt's Ganoub El Wadi Holding Petroleum Company (Ganope) has launched its 2008 licensing round, offering 12 exploration blocks to both Egyptian and international companies, writes Nassir Shirkhani.
The blocks are in the Red Sea, the South Gulf of Suez, and the Eastern and Western Deserts.
Bidders will be able to buy data and review the potential of the acreage from 1 April. The closing date for bids is 15 July.
Ganope, which oversees exploration in Upper Egypt that offers less potential than the Nile Delta, has had limited success with its rounds compared to high-profile campaigns by Egyptian Natural Gas Holding Company.
However, higher oil prices have made it more interesting for international companies willing to invest in Egypt.
Ganope awarded five out of the eight blocks on offer under its 2006 licensing round, with interest mainly centred on the onshore Western Desert acreage.
However, xploration drilling in areas overseen by Ganope has, so far, failed to turn up any significant oil or gas discoveries.
By NASSIR SHIRKHANI
© Upstream 2008
