BP And Eni Show Faith In Egypt’s Offshore
Egypt has awarded eight of 15 blocks offered in its latest bid round. Heavyweights BP and Eni are among those to have snapped up offshore gas-prone acreage.
The result of state firm EGAS’ bidding round is better than most observers had dared to expect. It offers evidence that faith in the country’s upstream has turned the corner following Cairo’s efforts to clear some of the backlog in payments owed to...