Oil firms of Italy, UK announce new gas discovery in Egypt

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Gas refinery in the Western desert of Egypt. (Photo by Giles Barnard/Construction Photography/Avalon/Getty Images)
Gas refinery in the Western desert of Egypt. (Photo by Giles Barnard/Construction Photography/Avalon/Getty Images)

The Italian oil company Eni and British Petroleum (BP) announced on Wednesday a new gas discovery, estimated at 4 trillion cubic feet in Egypt, said a statement posted on Eni’s website.

Eni as the operator and BP as the contractor said that the new discovery is located in the Great Nooros Area, in the Abu Madi West Development Lease, in the conventional waters of the Nile Delta at the Mediterranean Sea.

This new discovery, achieved  through the Nidoco NW-1 exploratory well, 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, the statement added.

It added that the preliminary evaluation of the well results indicates that the Great Nooros Area gas in place can be estimated in excess of 4 trillion cubic feet.

Eni, together with its partner BP, in coordination with the Egyptian petroleum sector, will begin screening the development options of this new discovery based on the area’s existing infrastructure, it added.

Eni holds a 75-percent stake in the license of Abu Madi West Development Lease, while BP holds the remaining 25 percent.

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