Eni awarded 3 new exploration licenses in Egypt

Eni was the successful bidder of three new exploration licenses in Egypt as a result of the competitive 2013 EGPC and EGAS bid rounds. The new licenses will be formally awarded after the ratification and finalization of the concession agreements. In the last months, Eni has entered into new countries, such as South Africa and Myanmar, and acquired new areas in China and Vietnam.

As a result of the EGPC bid round, Eni has been awarded a 100% participating interest and operatorship of the onshore block South-West Melehia. The block is in Egypt’s Western desert, near the Melehia Development Lease, in which the company has a participating interest. The new license covers an area of 2,058 sq km.

As a result of the EGAS bid round, Eni will become the operator of Block 9 and Block 8 in deep offshore waters of the Mediterranean Sea, near the boundary with Cypriot waters. Eni will hold 100% equity in Block 9, also named North Leil Offshore, which covers an area of 5,105 sq km in water depths ranging from 2,100 to 2,800 m. In Block 8, also named Karawan Offshore, Eni will partner with BP, with both companies holding a 50% equity interest. This license covers an area of 4,565 sq km in water depths ranging from 2,000 to 2,500 m.

Eni has been present since 1954 and is currently the largest international energy player in the country, with a hydrocarbon equity production of approximately 220,000 bbl of oil equivalent per day. “I am very pleased with the acquisition of these new exploration permits, which further strengthens our presence in Egypt, a historically and strategically important country for Eni,” Claudio Descalzi, Eni’s CEO, said.