Eni SpA E, Italy’s energy giant, emerged as a prominent winner in Egypt’s auction for oil and gas exploration rights, securing concessions for two of the four blocks outright, per the country’s petroleum ministry. Additionally, Eni joined forces with BP plc BP and QatarEnergy to secure a third block in the Mediterranean Sea.
According to a report by Reuters, the ministry initiated the process of international bidding for the exploration of 23 available blocks on Monday, including 10 in the Western Desert, two in the Eastern Desert, seven in the Suez Gulf and four in the Red Sea, with a deadline set for Feb 25.
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