EGPC has postponed offering new oil and gas E&P tenders in 10 areas until the price of oil stabilises, EGPC Chairman Mohamed El Masry said. Security approvals for the sites have already been obtained, but El Masry says the low oil price currently is not conducive to new investment. However, he believes there is significant production potential from sites in the Western Desert, West Delta and the Mediterranean, where there are still large amounts of undiscovered gas. (Enterprise)
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