Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi witnessed the commencement of drilling operations of a new well at Narges gas field in the Mediterranean Sea, according to a statement.

The project is being developed by Chevron as the main operator, in partnership with Italy’s Eni, alongside the UAE-based Mubadala Energy and Tharwa Petroleum Company.

Badawi followed up on the launch of drilling activities aboard the drilling vessel Stena Forth, which arrived in Egypt a few days ago to begin operations at the field.

This is part of the ministry’s efforts to encourage international oil companies (IOCs) to accelerate the development of untapped gas discoveries and bring them into the production portfolio to boost natural gas production and reduce the import bill.