Eni Makes Gas Discovery In Egypt’s Deep Waters, Dubs It As ‘Supergiant’

Eni Makes Gas Discovery In Egypt’s Deep Waters, Dubs It As ‘Supergiant’

Eni Makes Gas Discovery In Egypt’s Deep Waters, Dubs It As ‘Supergiant’ by Aswat Masriya

CAIRO, Aug 30 (Aswat Masriya) – Italian oil and gas company Eni has revealed what it is describing as the “largest gas discovery ever made in Egypt and in the Mediterranean Sea,” on Sunday.

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The discovery of Zohr “could hold a potential of 30 trillion cubic feet of lean gas,” Eni said in a statement.

Egyptian Petroleum Minister Sherif Ismail said developing the new discovery is due to take approximately 4 years, in a statement issued on Sunday.

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He was briefed on the discovery by Eni Chief Executive Officer Claudio Descalzi, who also discussed the discovery with Egyptian President Abdel Fattah al-Sisi in a recent trip to Egypt.

Descalzi said this “historic discovery will be able to transform the energy scenario of Egypt.”

The Italian giant said it intends to immediately appraise the field to accelerate the development of the discovery.

Zohr was discovered in the Shorouk block. Eni holds 100 percent of the working contractor’s interest in the block, after an agreement signed between the company and the Egyptian state’s Natural Gas Holding Company in January 2014.

Eni has operated in Egypt since 1954 where it is a major oil and gas producer, supplying a little over a quarter of Egypt’s annual oil and annual gas production.

This content is from : Aswat Masriya

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Aswat Masriya English is the sister site of Aswat Masriya, which provides news and information about the general scene in Egypt. The websites are part of a Thomson Reuters Foundation initiative to enhance democracy through strengthening the media in Egypt. Along with a programme of training courses for journalists, it is hoped that the sites will promote democracy in Egypt by providing independent, balanced and accurate news and information to journalists and the public in this critical phase in Egypt’s history. Aswat Masriya has set content partnership agreements with prominent Egyptian media institutions like Al-Ahram newspaper and Al-Shorouk Newspaper.
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