Egypt to announce results of 2011 oil and gas bid round
- Egypt: Wednesday, September 26 - 2012 at 03:32
State-owned Egyptian General Petroleum Corp (EGPC) has said it is to announce soon the results of an oil and gas bid round launched in September 2011, almost seven months since the closing date, Reuters has reported. Some 25 bids have been received from international oil firms for 15 concessions, including firms that have not operated in Egypt before, an EGPC official said. "The delay has been mostly due to the time it takes to evaluate the bids and also because we have to have all the necessary approvals from various bodies of government for newcomers," said the official, who declined to be named.
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