Egypt, banking on its success as a prolific offshore gas basin, is opening up frontier areas in the Mediterranean Sea to international oil companies as part of a comprehensive new exploration push, writes Nassir Shirkhani.
The omens are good thanks to the 2015 discovery of the giant Zohr field by Italy’s Eni and a willingness on the part of the Oil Ministry in Cairo to offer oil majors incentives such as a competitive gas price and plans to streamline the bidding process and block awards.
