The Egyptian General Petroleum Corporation (EGPC) has decided to extend the closure date of the 2011 International Bid Round for Petroleum Exploration & Exploitation, launched, last September, of which date of closure was due on Monday, January 30th 2012, yet, to be extended for a period of two months, ending March 29, 2012, on the request of several Major Companies, interested in participating, actively in this Bid Round.
The International Bid Round included 15 Exploration Blocks in the Gulf of Suez, Eastern and Western Desert & Sinai Sedimentary Basins.  The Bid Round closing date postponement decision   is due to the growing interest from Major Oil Companies to participate, paving the way for other companies to take the opportunity in order to get the required information and data of the related  Bid Round Blocks and Areas.

Eng. Hani Dahi, EGPC Chief Executive Chairman announced that the great interest of International Companies to participate in this Bid Round represents a clear and positive evidence that Egypt will ever be a stable State, in spite of political and economic conditions currently taking place. He, also, pointed out that keeping on attracting investments, is a major challenge for the Petroleum Sector, in light of rapid changes witnessed by the world and its effect on the global economy.
 Moreover, he stressed the high expectations of increasing Petroleum investments over the coming period, in light of the high oil potentials in Egypt, confirmed by the international studies & reports and supported by the volume of discovered reserves, the speed of the discoveries development and putting them on production.