Egypt has accepted six bids for oil and gas exploration worth a total investment of up to $200 million, the Ministry of Petroleum said on Friday. In May, the General Authority for Petroleum announced an international tender for 11 oil and natural gas blocks in the Western Desert and Gulf of Suez as Egypt looks to boost oil and gas production to meet growing energy demand. Royal Dutch Shell, BP, Apache Corp and Apex International Energy are among the companies involved, the ministry said in a statement. It said BP would invest at least $46 million, Apache at least $60.6 million and Shell at least $35.5 million. Egypt owes about $3 billion to international oil companies for oil and gas they have supplied.

Source: Egypt Independent December 03, 2016 07:26 UTC