Eni gains Egyptian deep-water blocks [IMG] Acreage awards: Eni...

Eni gains Egyptian deep-water blocks



Acreage awards: Eni gains two new deep-water permits from Cairo's Egas
AFP/Smm
Bill Lehane
14 January 2015 10:14 GMT
Italy’s Eni has signed concession agreements for two new deep-water blocks off Egypt secured in the latest bid round by Egyptian Natural Gas Holding Company (Egas).
The Milan-headquartered oil player will hold a 100% stake in one of the permits, North Leil, while it will operate the second under a 50/50 partnership with British supermajor BP.
Eni initially secured the nod for the permits last October under the provisional awards from the EGas licence round.
Both permits lie in deep waters off the Mediterranean close to the maritime border with Cyprus and to the west of the Shorouk block that Eni acquired last year from the previous Egas round.
The North Leil and Karawan blocks cover areas of 5105 and 4565 square kilometres respectively and will be operated by Eni’s Egyptian arm IEOC.
Earlier this month Eni also put pen to paper on the Southwest Meleiha (Melehia) permit onshore the country's Western Desert under a separate licensing offer from Egyptian General Petroleum Corporation (EGPC).