Global energy investors are invited to bid on 19 new licenses to explore natural gas fields in Egypt and its coastal areas
EGAS, the Egyptian Gas Company, announced on Wednesday, 19 January that it will issuean international bid for gas exploration in 19 different areas this year, Reuters reported.
The 19 areas comprise 17 located in the Mediterranean and two inthe Nile Delta region, according to EGAS ChairmanMahmoud Latif.
EGAS expects domestic consumption to reach 35.5 million tons in 2010-201, according to acompany report.
Egypt became of a key producer of gas in the last 10 years, upgrading its gas fields in theMediterranean and exporting its first liquid gas at the beginning of 2005, boosting salesthrough improved pipelines.
Egypt'sproven reservesjumpedfrom1.22 trillion cubic metresa decade agoto2.19 trillioncubic metersat the end of2009, compared withonly0.35 trillionin 1989, according to a BPreport on world energy.
A major step was taken when Egypt signed a $9 billion agreement with BP andRWEDea AG, headquartered in Hamburg —an international operator in the field of exploration andproduction of natural gas and crude oil—for the development of two fields near the coastal cityof Alexandria.
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