PGNiG Wins Bid for Bahariya Concession in Egypt

PGNiG SA said that its bid for exploration on Bahariya 3 Block in Egypt was accepted by Egyptian General Petroleum Company. It was the first bidding round for Egyptian exploration concessions in which PGNiG submitted a bid.

The Bahariya Block is located approximately 200 km southwest of Cairo in the Western Desert area. Over the last 10 years, a number of significant oil field discoveries were made in the Western Desert. The Bahariya Block covers the area of 4,414.4 sq. km.

In accordance with the Egyptian procedure, the award of the Bahariya concession is subject to approval by the competent authorities of the Arab Republic of Egypt.