Egypt extends bidding deadline for 22 oil, gas auction

: Sunday, May 04 - 2014 @ 10:11

Egypt’s state-owned gas company has said it has extended the bidding deadline to July 3 in an international auction of 22 concessions for oil and gas exploration, Reuters has reported. Egypt’s state-owned Natural Gas Holding Co (EGAS) and General Petroleum Corp (EGPC) and did not give a reason for the delay, but an EGAS source said the deadline was pushed back at the request of companies who wanted more time for feasibility studies. “A group of companies submitted a request to EGAS and EGPC two weeks ago to postpone the closing date of the bidding so they can assess the feasibility studies for the concession areas and offer the best deals,” the source said.

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Sunday, May 4- 2014 @ 10:11 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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