Eni strikes gas in Egypt's Nour prospect after Zohr success

Source: Heren


LONDON (ICIS)--Italian energy major Eni announced a new gas discovery off Egypt’s Mediterranean coast on Thursday 14 March, promising further supply from the former LNG importer.

The Nour-1 well found a 90-meter gas column, the company said in a statement, adding that further tests would now be carried out.

Eni is the operator of the concession and has a 40% stake. British major BP has 25%, Emirati investment company Mubadala owns 20% and local producer Tharwa 15%.

Nour-1 is located close to the Zohr field that has driven Egypt’s surging gas production, cutting its LNG imports to zero and turning it into a net exporter.

Other countries in the region including Cyprus, Turkey, Lebanon and Israel are all hoping to replicate Egypt’s successful exploration in the east Mediterranean.

In January a group of seven countries from the region launched the Eastern Mediterranean Gas Forum to deepen upstream cooperation, promote infrastructure projects and ultimately create a regional gas market.