document: On 12 February 2019, Merlon Petroleum was awarded the North Beni Suef exploration block (Block 5), Gindi Basin onshore basin as a part of the Egyptian General Petroleum Corporation (EGPC) 2018 bid round closed on 1 October 2018.   The company is committed to invest USD 38 million including the drilling of eight wells. The signature bonus is USD 3.2 million.    Background information    The North Beni Suef block is part of the former Faiyum-Agila exploration block (operated by Braspetro, 100%) and relinquishment in October 1978, former ESSOâs East Desert exploration block, relinquished in November 1991, former Qarun exploration block (operated by Shell), relinquished in April 1989 and Northern part of East Beni Suef exploration licence (operated by Apache 33.5%, Sinopec 16.5%, Dana Petroleum 50%), relinquished in January 2016.     Some producing field are carved from the Block: West of Nile producing from the Cenomanian Abu Roash reservoir, Azhar producing from Albian Kharita reservoir and Fayoum from Bahariya and Abu Roash reservoirs.
summary: Merlon Petroleum was awarded the North Beni Suef exploration block (Block 5), Gindi Basin onshore basin as a part of the Egyptian General Petroleum Corporation (EGPC) 2018 bid round