ENI discovers new gas field in Egypt

ENI discovers new gas field in Egypt

Italian energy group Eni has discovered a major natural gas at Narges-1 exploration well in the Narges Offshore Area Concession in the Eastern Mediterranean, offshore Egypt, the company announced Sunday in a press release.

The multinational firm said it discovered 200 net feet (61 meters) of milocene and oligosin gas-bearing sandstones in the Nargis-1 well and 1,014 feet (309 meters) of water was drilled by the Stena Forth drillship.

“Nargis-1 confirms the validity of Eni’s focus on Egypt Offshore, which the company will further develop thanks to the recent award of exploration blocks North Rafah, North El Fayrouz, North East El Arish, Tiba, and Bellatrix-Seti East,” the release said.

The Nargis-1 well is part of Egypt’s Nargis Offshore Area concession operated by Chevron, with a 45% interest in it. ENI also holds a 45% stake, while Tharwa Petroleum Company SAE holds a 10% interest.

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