Eni announces new gas discovery offshore Egypt

On Sunday, the energy conglomerate Eni of Italy announced that it had discovered a fresh supply of gas in an Egyptian offshore field in the Eastern Mediterranean Sea.

Eni, which is controlled by the state, is looking for new sources of gas because it wants to completely replace gas imports from Russia by 2025 after Russia invaded Ukraine.

The group said in a statement that the new discovery is in the Nargis-1 exploration well and “can be developed leveraging the proximity to Eni’s existing facilities.”

Egypt’s 1,800 square kilometers include the Nargis-1 well. Chevron owns a 45 percent stake in the km Nargis Offshore Area concession. Eni also owns 45 percent of the company, and Tharwa Petroleum Company SAE owns 10 percent.

Eni stated that the Nargis-1 exploration well made the significant gas discovery offshore of Egypt in the eastern Mediterranean and that it was made in the Nargis offshore area concession.

Due to the recent award of several exploration blocks, Eni stated that it would further develop the offshore region. About 700 square miles or 1,800 square kilometers constitute the concession area.

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