The two oil and gas producers have hired French bank Natixis to run the joint sale process for Blocks 10 BA, 10 BB and 13T in the South Lokichar Basin, sources say.
The Senegal government recently gave the greenlight for the project, which is expected to produce 231 million barrels (MMbbl) of oil resources in its initial phase of development and strike first oil in the next three years.
Midcontinent E&P companies reduce well intensity to generate economic returns.
Israel will initially export 200 million cubic feet of gas per day to Egypt, two Egyptian industry sources said.
The Swedish company said on Jan. 13 it had cut its resources estimate for the Alta oil discovery in the Barents Sea and no longer saw Alta and the nearby Gohta find as commercially viable for joint field development.
The project is estimated to target 231 million barrels of oil resources in its initial phase of development.
European governments and Israel last year agreed to proceed with the so-called EastMed project, a $6 billion to $7 billion pipeline project to carry gas from Israeli and Cypriot waters into Europe.
Exxon Mobil, which has had a long-standing downstream presence in Egypt dating back to the beginning of the 20th century, marked its foray into gas exploration in the country in February 2019.