Egyptian Oil block sales

Egyptian Oil block sales

The country has awarded its first oil concessions since the 2011 revolution to Royal Dutch Shell, RWE and TransGlobe Energy.
Within the last month 15 blocks were put up for sale, 11 were bid on with TransGlobe taking four (4), Shell won three (3), and one block each went to RWE (1), Apache Corp. (1), Dana Petroleum (1), and Vegas (1).
Seems the lure of huge returns has overridden any politcal issues in the country. The oil majors seem unperturbed neither are other investors by the look of things.

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