World oil firms show interest in Egypt's new concessions

The Egyptian General Petroleum Corporation (EGPC) has received applications from American, European and Canadian companies specialized in the oil and natural gas exploration.

The companies have all expressed an interest in 32 new concessions in Egypt, covering 293,000 km2, which the EGPC has offered to international tender.

The EGPC has passed on its report to Oil Minister Sameh Fahmi. Many international oil companies are eyeing more than one concession in the light of preliminary studies and information prepared by Corporation experts, who stress that all the concessions on offer are potentially rich in oil and gas.

The report also suggests early next year as a date for holding a series of seminars and roundtable meetings outside the country.

These will be attended by officials from the Corporation and international oil and gas exploration companies.

The seminars and meetings will give the companies a chance to get more information and technical data about the concessions.