Eni, BP announce new gas discovery in Egypt – Economy – Business

The Italian oil company Eni and British Petroleum announced on Wednesday a new gas discovery in the Great Nooros Area, located in the Abu Madi West Development Lease, in the conventional waters of the Nile Delta, offshore Egypt.

This new discovery is located in 16 meters of water depth, 5 km from the coast and 4 km north from the Nooros field, discovered in July 2015, according to a statement posted on Eni’s website.

“The preliminary evaluation of the well results, considering the extension of the reservoir towards north and the dynamic behavior of the field, together with the recent discoveries performed in the area, indicates that the Great Nooros Area gas in place can be estimated in excess of 4 Tcf,” the statement explained.

“Eni, together with its partner bp, in coordination with the Egyptian Petroleum Sector, will begin screening the development options of this new discovery benefitting of the synergies with the area’s existing infrastructures,” according to the statement.

Eni, through its subsidiary IEOC, holds a 75% stake in the license of Abu Madi West Development Lease, while bp holds the remaining 25% stake.

The operator is Petrobel, an equal joint venture between IEOC and the state company Egyptian General Petroleum Corporation (EGPC).

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