DEA has been pre-awarded the East Damanhour Onshore block, following the announcement of the winners of the EGAS 2018 International Bid Round on 12 February 2019. Other bidders for the acreage included Aspect Energy, Cheiron and INA. The 1,418 sq km block lies immediately west of the Disouq PSC (DEA 50% equity) in the Nile Delta Basin. Work commitments include expenditure of US$ 28 million and the drilling of seven wells during the initial exploration period. A US$ 11 million signature bonus will be paid. Upon PSC signature, DEA will operate the concession 100% equity.
DEA has been pre-awarded the East Damanhour Onshore block, following the announcement of the winners of the EGAS 2018 International Bid Round on 12 February 2019. Other bidders for the acreage included Aspect Energy, Cheiron and INA. The 1,418 sq km block lies immediately west of the Disouq PSC (DEA 50% equity) in the Nile Delta Basin. Work commitments include expenditure of US$ 28 million and the drilling of seven wells during the initial exploration period. A US$ 11 million signature bonus will be paid. Upon PSC signature, DEA will operate the concession 100% equity.