IPR Energy Resources Ltd. (IPR) has picked up two new blocks in Egypt; the North Al Baraka (Block 7) and the South Al Baraka (Block 8). The concession awards were part of Ganoub El-Wadi Petroleum Holding Company (Ganope)’s latest licensing round.

Both blocks are considered to be an extension of the Eastern Desert Basin exploration play which has already yielded finds and infrastructure in the region for near term production. This very large territory is to cover nearly 22,000km². The phase 1 of exploration for each concession is four years and will require a work program commitment comprised of extensive geological and geophysical work, acquisition of 2D/3D seismic, as well as drilling.

IPR plans to operate the blocks and retain 60% interest, while Canadian partner Mediterra Energy Corporation will hold 40% interest. Petroleumafrica reports

The new licenses will be formally awarded in Q4, following ratification of the PSAs by the Egyptian government. 

 “This strategic expansion into the onshore Nile Valley allows IPR to grow its portfolio base in Egypt beyond its existing presence in the Western Desert, Gulf of Suez, and Nile Delta making this IPR’s 8th and 9th Concession in country.  We are very excited about exploring in this territory and developing this very important region of Egypt economically and socially –programs that this part of Egypt needs.” IPR’s Chairman, Dr. M.K. Dabbous said.