Egas round fails to lure as much interest as hoped

State-owned Egyptian Natural Gas Company (Egas) has had limited success with its latest offshore round in the Mediterranean Sea, awarding only four of the 12 blocks on offer.

The relatively tepid interest may be explained by the fact that the tender closed before the discovery of the giant Zohr field by Italy’s Eni was confirmed in August.

The round did attract major players such as Italy’s Eni and UK supermajor BP, while French giant Total has made an entry to the Mediterannean play.

Egas