Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi met with a delegation from Eni and discussed plans to boost natural gas production from the company's concessions in the Mediterranean Sea and the Nile Delta, according to a statement.
Both sides followed up on the progress at the North Nidoco-2 well, which is being developed in partnership with bp and is scheduled to come online before the end of June. The plant is expected to 50 to 60 million cubic feet of gas per day (Mcf/d) to Egypt’s production capacity.
They also reviewed preparations for drilling the Southwest Nour-1 well in the Mediterranean Sea, expected to enter production before the end of 2026. In addition, the Taurt-6 well, operated by the Pharaonic Petroleum Company (PhPC) in partnership with Eni, is slated for drilling this year.
The talks also addressed the latest development on the Cronos gas field link-up project after Cypriot President Nikos Christodoulides approved the production plan to transfer the first shipment of natural gas to Europe via Egypt by 2028.
Badawi also lauded the strong cooperation between Egypt and Cyprus in advancing the project development and securing the final investment decision (FID) from the partner consortium.
