In October 2019, a PSC was formally gazetted awarding the Egyptian National Petroleum for Exploration & Development Company (ENPEDCO) the concession for the 1,038 sq km South East Abu Sennan (SEAS) block. The concession agreement was signed on 5 September 2019, following the Energy & Environment Committee and House of Representatives (HoR) approval on 11 June 2019. The out-of-round award had been provisionally agreed in Q4 2018. The PSC is for a maximum eight-year term (5+3) with commitments in the first period of one exploration well, reprocessing of 2D and 3D seismic and a US$ 1 million minimum investment. In the second exploration period, commitments include additional studies, one exploration well and an additional US$ 1 million minimum investment. A US$ 1 million bank guarantee has also been lodged. The under-explored SEAS block lies in the southern part of the Abu Gharadig Basin. It comprises of acreage formerly held by Tharwa Petroleum under the East Abu Sennan PSC and encloses development leases (DL) which form part of the El Diyur concession, operated by El Diyur Petroleum. The concession area has seen just three wells drilled, with the last by Enap in 2003 (Baraka 1, TD 2,096m, P&A dry). ENPEDCO was only formed in 2017 and is 70% owned by the National Service Projects Organization, the investment arm of the Egyptian military. EGPC hold a 20% stake, with state E&P company General Petroleum Co (GPC) holding the remaining 10%. The company has been granted six concessions in out-of-round awards. ENPEDCO operates the concession with 100% equity. 
Egypt, Abu Sennan