On December 30, 2013, Egypt’s state-owned petroleum corporation and natural gas holding company announced an internal auction for 22 concessions intended for oil and gas exploration. The concessions, located in the Suez Canal, Mediterranean Sea, Nile Delta and western desert, all must be in accordance with Egypt’s production sharing agreements. According to the EIA, Egypt is Africa’s second largest dry natural gas producer and is the greatest oil producer outside of OPEC members.

The auction is scheduled to end on May 19, 2014, which Egypt’s o...


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