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New Gas Discovery In Egypt

New Gas Discovery In Egypt

Thursday, 17 September, 2020 - 05:15
Egypt sees a series of new gas discoveries. Reuters

The Italian oil company Eni revealed a new gas discovery in Egypt's Great Nooros Area, located in the Abu Madi West Development Lease, in the conventional waters of the Nile Delta.


This new discovery is located in 16 meters of water depth, 5 km from the coast and 4 km north from the Nooros field, discovered in July 2015.


Eni said that together with its partner BP and in coordination with the Egyptian Petroleum Sector, it will kick off screening the development options of this new discovery benefiting of the synergies with the area's existing infrastructures.


Eni, through its subsidiary IEOC, holds a 75% stake in the license of Abu Madi West Development Lease. It has been present in Egypt since 1954, where it operates through IEOC Production.


Egypt's daily production capacity of natural gas reached an average of 7.2 billion cubic feet (bcf), according to data revealed recently by the Egyptian cabinet.


In 2018, Egypt achieved self-sufficiency of natural gas, turning from a net importer to an exporter.


In July, French oil company Total announced that, along with its partners BP and Eni, it had made a gas discovery at a well off the coast of Egypt.


At the time, Total said the discovery had been made at the Bashrush well on the North El Hammad licence, located 11 kilometres (6.8 miles) off the Egyptian coast.


ENI and BP both hold 37.5 percent stakes in the North El Hammad licence, while Total has a 25 percent stake.


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