Eni unveils new natural gas discovery in Egypt
Updated 1/15/2023 1:27:00 PM
Arab Finance: Eni announced a major natural gas discovery at Narges-1 exploration well in the Narges Offshore Area Concession in the Eastern Mediterranean, offshore Egypt, according to a press release on January 15th.
Approximately 200 net feet (61 meters) of milocene and oligosin gas-bearing sandstones were discovered 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.
Chevron Holdings C Pte. Ltd. is the operator of the Nargis Offshore Area concession with a 45% interest, while Eni’s wholly owned affiliate IEOC Production BV holds a 45% and Tharwa Petroleum Company holds a 10% interest.
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