Egypt 2016 EGPC licensing round launch

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26 July 2016

Egypt 2016 EGPC licensing round launch

Report summary

Egypt is offering eleven blocks in the Western Desert and Gulf of Suez, two of the most well developed basins in the region. The licensing round closes on 31 August 2016 with awards expected to be made in early 2017. Blocks will be awarded as production sharing contracts with 13 biddable parameters. Cost recovery ceiling, excess cost recovery share and profit share will primarily dictate government share. Onshore Egypt remains attractive for exploration with low finding and development costs. The Western Desert in particular has seen high success rates in recent years, with discoveries quickly tied in to the existing pipeline network. Egypt is a net importer of oil and gas, and any new discoveries will help to meet rising demand. However, key concerns for potential bidders will be Egypt’s long-term ability to pay for profit oil and gas, given the country’s ongoing scarcity of US dollars, and the low price offered for onshore gas.

Table of contents

  • Executive summary
  • Acreage on offer
    • Timeline
    • Data
    • Evaluation process
    • Western Desert
    • Gulf of Suez
    • Fiscal regime
      • Cost recovery and excess cost recovery
      • Profit share
    • Market and infrastructure
      • Oil Infrastructure
      • Gas Infrastructure
    • Liquid rich blocks will be the focus, but tough terms may be a hindrance
  • Round expectations
    • Development assumptions
    • Fiscal terms assumptions
    • Price assumptions
    • Fiscal sensitivity – Government share

Tables and charts

This report includes 22 images and tables including:

  • Criteria for success
  • Six blocks on offer in the Western Desert
  • Five blocks on offer in the Gulf of Suez
  • Summary of offered acreage
  • EGPC bid rounds - blocks and awards
  • Timeline
  • Western Desert - data package price
  • Gulf of Suez - data package price
  • Commercial biddable parameters
  • Creaming curve
  • Discoveries and success rates
  • Effective royalty rate - 2013 terms
  • Government share - progressivity
  • Government share – fiscal sensitivities
  • Fiscal benchmarking
  • Egypt 2016 EGPC licensing round launch: Table 5
  • Egypt 2016 EGPC licensing round launch: Table 6
  • Egypt 2016 EGPC licensing round launch: Table 7
  • Potential 5 mmbbl discovery - IRR
  • Potential 20 mmbbl discovery - IRR
  • Egypt 2016 EGPC licensing round launch: Table 4
  • Contractor profit share (oil) – Effective rate

What's included

This report contains:

  • Document

    EGPC 2016 bidround data.xls

    XLS 666.00 KB

  • Document

    Egypt 2016 EGPC licensing round launch

    PDF 678.98 KB

  • Document

    Egypt 2016 EGPC licensing round launch

    ZIP 849.79 KB

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