US EditionItaly's Eni discovers 2 trillion cubic feet of gas offshore Egypt
The find includes 130 million barrels of condensates and could be fast-tracked because it is less than 10 km from existing infrastructure.
- On Wednesday, Dragon Oil, a subsidiary of Emirates National Oil Company, announced a new oil discovery at the South El Wasl B.B2 exploration well in the Gulf of Suez, with initial testing indicating production rates above 2,000 barrels per day.
- Separately, Italian energy giant Eni announced a significant natural gas and condensate discovery at the Denise W1 well in the Eastern Mediterranean's Temsah Concession, with preliminary estimates of about 2 trillion cubic feet of gas and 130 million barrels of condensates.
- Located less than 10 km from existing infrastructure, the Denise W1 find enables fast-track development through Petrobel, the joint venture between Eni and the Egyptian General Petroleum Corporation , with a 50% working interest held by each partner.
- Egypt's petroleum ministry stated these discoveries support efforts to "offset natural decline and reduce the import bill," as Prime Minister Mostafa Madbouly noted last month that regional conflicts nearly tripled natural gas import costs to $1.65 billion monthly.
- To support Egypt's transition into a regional energy hub, Eni has committed $8 billion in exploration and production activities over the coming years, leveraging existing LNG infrastructure to fast-track supply into European markets.
23 Articles
23 Articles
The global energy crisis will certainly not be resolved suddenly by the truce between Iran and the United States accepted yesterday by Donald Trump. Only yesterday the gas rose to 52.4 euros per megawattora on the European market (later dropped to 43 euros). Yet, yet yet another bad news was partly softened by Eni's announcement of the discovery of a natural gas deposit in Egypt with an estimated value of 56 billion cubic meters. It is an invalu…
The offshore vein, in the Egyptian territorial waters in the eastern Mediterranean, is worth 56 billion cubic meters. Accelerated lane for production, methane is located only 10 kilometers from the already existing infrastructure
Italy's Eni discovers 2 trillion cubic feet of gas offshore Egypt
Eni has made a gas and condensate discovery offshore Egypt after drilling the Denise W‑1 exploration well in the Temsah Concession in the Eastern Mediterranean, the Italian energy group said on Tuesday.
The first estimates speak of about 56 billion cubic meters of methane. Still no decision made on export, in any case it will be a breath of air for the country, in difficulty because of the war in Iran
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