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Eni: New gas discovery in the eastern Mediterranean off the coast of Egypt

Eni: New gas discovery in the eastern Mediterranean off the coast of Egypt

For Eni, there is an important new gas discovery near Egypt. The large energy was discovered in the Narges 1 exploration well in the “Narges offshore area” concession in the eastern Mediterranean, off the coast of Egypt. The drilling vessel, Stena Forth, encountered approximately 61 meters of Miocene and Oligocene sandstones containing gas.

Eni focus on narcissus marine

Discovery can be developed by exploiting the proximity to Eni’s existing infrastructures. Nargis-1 confirms the effectiveness of Eni’s strategy with a focus on the Egyptian sea, which the company will develop thanks to the recent grants of North Rafah, North Fayrouz, Northeast Arish, Thebes and Bellatrix-City East. Chevron Holdings C Pte. Ltd. It is the operator with a 45% stake, while IEOC Production BV, a wholly owned subsidiary of Eni, has a 45% stake and Tharwa Petroleum Company SAE has a 10% stake.

Presence of the congregation in Egypt

Eni has been present in Egypt since 1954, where it operates through its subsidiary IEOC. The company is currently the leading producer in the country with a hydrocarbon production of approximately 350,000 barrels of oil equivalent per day. In line with its net-zero strategy by 2050, Eni is involved in a number of initiatives aimed at decarbonizing the Egyptian energy sector, including the development of carbon capture and storage plants, renewable energy plants, agricultural raw materials for biorefining and others.

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