August 13, 2017 / 8:06 AM / in 4 months

Egypt to hold tender for oil exploration in Eastern Desert

CAIRO (Reuters) - Egypt’s General Authority for Petroleum (EGPC) announced on Sunday it would hold a tender for oil exploration in the country’s Eastern Desert.

A fishing boat sails in the Mediterranean Sea near an oil station in Alexandria, Egypt, July 18, 2017. REUTERS/Mohamed Abd El Ghany

The areas open for exploration include Wadi Dara, with a total area of 50 square kilometres, and block G in West Gharib, with an area of 20 square km.

Bids must be submitted by Dec. 28, according to an advertisement EGPC posted in local newspapers.

Egypt has been pushing for new oil and gas discoveries and speeding up production at existing fields, aiming to cut down on imports and return to exporting natural gas in coming years.

Reporting by Ehab Farouk; Writing by Eric Knecht; Editing by Susan Fenton

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