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Egypt will launch a new international auction for eight oil and gas exploration blocks in Mediterranean Sea, oil ministry said in a statement on Sunday.
The new auction will be through the state-owned Egyptian Natural Gas Holding Company (EGAS).
The eight blocks up for the auction, with total area of 11849 square metres, are West Al Arish Marine, East Port Said, North Rumana Marine, North Ras al-Ash Marine, West al-Timsah Marine, South Taneen Marine, North Al Hammad Marine, and East Alexandria Marine.
From his part, Egypt’s Oil Minister Sherif Ismail said the international auctions contribute to ensuring local consumption growing needs for petroleum products and natural gas.
