Middle East Economic Survey


No 20



Majors Step Up Egypt Investments, As EGAS Awards Four Mediterranean Blocks

In a sign of the growing interest in Egypts upstream potential, EGAS has awarded four of the seven offshore blocks on offer in its latest bid round to large international oil companies (IOCs), despite the bleak global economic outlook and earlier signs of lukewarm participation. BP, BG, Shell, Petronas, Enel and Total were all winners of acreage in the gas-prone...