Source Pravda.Ru

Egypt Researches Oil And Gas Blocks New Way

The Ministry of a oil industry of Egypt has presented a new oil and gas system for licensing which gives the international oil and gas companies the right to bid for the exploration rights at thirty individual blocks. The new system includes nine blocks in gulf of Suez, eight in Mediterranean sea, seven in the Libyan desert, three in the Egyptian delta and three in Red sea. Results of tenders will be declared later this year or in the beginning of 2003.