Middle East Economic Survey

VOL. LII

No 10

9-Mar-2009

Egyptian Bid Rounds Attract Muted Interest, Despite New Discoveries

Egypts latest upstream bid rounds have attracted the interest of only a handful of foreign firms, reflecting the difficulty that producer countries face in boosting exploration activity during a period of low oil prices and bleak economic forecasts. Only three out of the seven Mediterranean blocks offered in the bid round organized by the Egyptian state gas company EGAS are...