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Eni discovers ‘supergiant’ gasfield near Egypt

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Eni discovers ‘supergiant’ gasfield near Egypt

Italian energy group Eni has discovered what it says is a “supergiant” gasfield off the coast of Egypt, the largest ever found in the Mediterranean Sea and which could provide a much-needed boost for the country’s economy.
Eni, one of Europe’s biggest oil and gas companies, said on Sunday that the Zohr discovery “could become one of the world’s largest natural-gas finds” and would play a “major” role in meeting Egypt’s natural gas demand for decades once fully developed.
The field held a possible 30tn cubic feet of gas, or 5.5bn barrels of oil equivalent (boe), said the company, which has examined well results and geophysical data from the Zohr 1X NFW well located in 1,450 metres of water in the Shorouk exploration block. It covers an area of 100 square km, about 200km off the coast of Egypt.
Claudio Descalzi, chief executive of Eni, discussed the results with Egyptian president Abel Fattah Al-Sisi in Cairo on Saturday.

Source: Financial Times, www.ft.com

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Italian energy group Eni has discovered what it says is a “supergiant” gasfield off the coast of Egypt, the largest ever found in the Mediterranean Sea and which could provide a much-needed boost for the country’s economy.
Eni, one of Europe’s biggest oil and gas companies, said on Sunday that the Zohr discovery “could become one of the world’s largest natural-gas finds” and would play a “major” role in meeting Egypt’s natural gas demand for decades once fully developed.
The field held a possible 30tn cubic feet of gas, or 5.5bn barrels of oil equivalent (boe), said the company, which has examined well results and geophysical data from the Zohr 1X NFW well located in 1,450 metres of water in the Shorouk exploration block. It covers an area of 100 square km, about 200km off the coast of Egypt.
Claudio Descalzi, chief executive of Eni, discussed the results with Egyptian president Abel Fattah Al-Sisi in Cairo on Saturday.

Source: Financial Times, www.ft.com

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