Eni SPA E made a natural gas discovery at the Nargis-1 exploration well in the Eastern Mediterranean Sea off Egypt’s coast.
The Nargis-1 well is part of Egypt’s Nargis Offshore Area concession, which covers about 445,000 acres. Eni holds a 45% interest in the concession.
The Nargis-1 well, which was drilled in 309 meters of water using the Stena Forth drillship, encountered 61 meters of Miocene and Oligocene gas-bearing sandstones. The discovery is intended to be developed by utilizing Eni’s existing facilities.
The well’s reserves were being evaluated and the concession partners are working to commence production as soon as possible. The discovery will uphold the company’s recent award of new blocks in Egypt.
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