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Egypt explores gas reserves in a huge field

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Giant Italian energy company Eni is rushing to explore large volumes of gas in Egypt’s huge new natural gas field soon.

The discovery of new gas in the eastern Mediterranean in the Narjes region was the climax of the discussion between the delegation of the Italian company Eni and Egyptian Oil Minister Tariq Al-Mulla.

Al-Mulla held a discussion session with Luca Vignatti, Exploration Director of the Italian company Eni, in the presence of the company’s director in Egypt, Mattia Campagnati, on the sidelines of the Egyptian International Petroleum Conference and Exhibition (EGYPS 2023).

The meeting, in partnership with the US company Chevron and the Egyptian company Wealth, discussed ways to accelerate the development of a new gas field being evaluated in the Narjis concession in the Mediterranean.

In mid-January, the Egyptian Natural Gas Holding Company (EGAS) and Eni announced the discovery of new natural gas in the Narges concession in the Mediterranean.

The discovery of new gas comes at a time when Egypt is seeking to increase its gas reserves, for which demand has recently grown, as a transitional fuel in the transition to energy.

At the time, Eni indicated that the Nargis 1 field confirmed its strategy to continue investing in oil and gas exploration off the coast of Egypt. He has recently acquired several new areas to explore North Rafah, North Al-Fairuz, Northeast Al-Arish, Thebes and East City of Bellatrix.

The new gas field is located 60 km north of the Sinai Peninsula. The Nargis 1 well was drilled by the Stena Fürth drilling rig at a depth of 309 meters.

The 2.5 trillion cubic feet of reserves in the Narjis gas field have tempted a number of international exploration companies to develop the field and conduct additional exploration in the coming period.

Chevron is considered one of the leading companies in the Middle East, which has been operating in Egypt for 85 years and has leased 4 exploration blocks, although it has been in the field of exploration and exploration for no more than 3 years.

The company is making a new discovery in the 1,800-square-kilometre Narjes offshore zone located in the eastern Mediterranean off the coast of Egypt.

Source: agencies

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