NO. 37



Egypt Opens Red Sea for Bidding

As part of its ongoing policy of opening up frontier areas for oilexploration, MEES is informed that the Egyptian General Petroleum Corporation (EGPC)on 16 June will for the first time invite international oil companies to submitbids for offshore acreage in Egyptian waters in the Red Sea. The decision toopen up the Red Sea for exploration has been taken in the light of the favorableresults of a study sponsored by the World Bank...