The state-owned General Petroleum Company (GPC) has been pre-awarded the 875 sq km West Amer block, following the announcement of the winners of the EGPC 2018 International Bid Round on 12 February 2019. Work commitments include expenditure of US$ 20 million and 10 wells in the initial exploration period. A US$ 5 million signature bonus will be paid. The block lies onshore in the Eastern Desert, extending offshore into the Gulf of Suez. It is located immediately west of the company's North Amer Offshore concession, whilst also wrapping around Dara Petroleum's (TransGlobe/EGPC JV) West Gharib PSC. Upon PSC signature, GPC will operate the concession with 100% equity.
GPC has been pre-awarded the 875 sq km West Amer block, following the announcement of the winners of the EGPC 2018 International Bid Round on 12 February 2019. Work commitments include expenditure of US$ 20 million and 10 wells in the initial exploration period. A US$ 5 million signature bonus will be paid. The block lies onshore in the Eastern Desert, extending offshore into the Gulf of Suez. It is located immediately west of the company's North Amer Offshore concession, whilst also wrapping around Dara Petroleum's (TransGlobe/EGPC JV) West Gharib PSC. Upon PSC signature, GPC will operate the concession with 100% equity.