Independent firm Apex International Energy has been awarded two blocks by the Egyptian General Petroleum Company (EGPC) from their 2016 bid round.
Apex was awarded Blocks 8 and 9 which are both located within the prolific Abu Gharadig basin in Egypt's Western Desert and cover 6,714 km2 in total.
Apex said it will invest US$27.4 million during the first exploration phase, to acquire and process 3D seismic and drill six exploration wells.
Roger B. Plank, founder and CEO of Apex International Energy, said: "We are delighted that EGPC has awarded Apex our first concessions in Egypt, enabling us to establish a foothold in the prolific Western Desert. With 1.7 million acres now in hand, this is an important step in our mission to build an oil and gas business of scale in Egypt and we are eager to start investing in the considerable potential of these Blocks."
In May, the General Authority for Petroleum announced an international tender for 11 oil and natural gas blocks in the western desert and Gulf of Suez. Egypt owes about $3 billion to international oil companies for oil and gas they have supplied.