France's Total Wins Bid to Explore Gas in Egypt

France’s Total has been awarded a natural gas exploration licence in Egypt’s Nile Delta, Reuters reported Monday citing a source in the state-run Egyptian Natural Gas Holding company (EGAS).

According to the news agency, the French energy major has won the bid to explore in Sector 2 in the Delta region.

In addition to Total other companies such as Eni and Dana Gas have also won concessions in the Mediterranean Sea and the Nile Delta.

Egypt’s gas production has seen consistent decline in the last few years amid rising domestic consumption. The government is trying to fill the gap by importing the fuel as well as encouraging investment in the sector.