Eni Makes Gas Discovery in Egypt
January 16 2023 - 2:31AM
Dow Jones News
By Ed Frankl
Eni SpA said it had made a significant new gas discovery off the
coast of Egypt.
The Italian energy company said Sunday that it found gas-bearing
sandstone at the Nargis-1 exploration well in the eastern
Mediterranean Sea.
The discovery can be developed by taking advantage of its
proximity to Eni's existing facilities, the company said.
Eni, via its wholly owned subsidiary IEOC Production BV, holds a
45% interest in Egypt's 1,800 square kilometer Nargis Offshore Area
concession, along with an affiliate of Chevron Corp., which holds
another 45%, and Egypt's Tharwa Petroleum Company SAE with 10%.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
January 16, 2023 02:16 ET (07:16 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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