italys eni signs 2 new gas exploration deals with egypt
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Italy's Eni signs 2 new gas exploration deals with Egypt

Egypt Today, egypt today

Egypt Today, egypt today Italy's Eni signs 2 new gas exploration deals with Egypt

Italy's Eni makes mega gas discovery off Egyptian coast (Reuters)
Rome - Arab today

Italy’s Eni, one of the leading global oil and gas companies, signed on Tuesday two new concession agreements with the Egyptian government for gas exploration in two fields of “North El-Hammad and North Ras El-Esh, located in the shallow waters of the Egyptian Mediterranean Sea,” according to the group’s website.

For the North El-Hammad block, Eni has a stake of 37.5 percent, while the remaining equities are owned by BP and Total, the Italian company said.

However, Eni has a 50 percent participation stake in the North Ras El-Esh block, which is operated by BP with an equity of 50 percent.

“They [the two new fields] strengthen Eni’s portfolio and positioning in Egypt, a country of historic and strategic importance, and further confirm the company’s commitment to pursue new exploration after the recent and important successes of Nooros, Zohr and Baltim South West, made in 2015 and in 2016,” the company said in its press release.

Eni has been operating in Egypt since 1954 through its subsidiary International Egyptian Oil Company (IEOC), with production of about 224.000 barrels of oil equivalent per day by the end of 2016.

Egyptian petroleum minister Tarek El-Molla said in May that the country would see an increase in natural gas production to between 5.5 and 6 billion cubic feet per day (cfd) by the end of 2019, up from the current 3.9 billion cfd.

Egypt currently has 12 natural gas field development projects underway worth a total of $33 billion in investment, El-Molla said.

The three largest projects, which include the mammoth Mediterranean gas field Zohr discovered by Italy's Eni last year, are expected to collectively bring 4.6 billion cfd online by the start of 2019.

Source: Ahram online

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

italys eni signs 2 new gas exploration deals with egypt italys eni signs 2 new gas exploration deals with egypt



GMT 13:04 2018 Wednesday ,03 October

Qureshi agreed cooperation with United States

GMT 08:37 2017 Wednesday ,09 August

Gulf diplomatic crisis splits families, dashes dreams

GMT 12:50 2015 Wednesday ,28 January

15 Israeli soldiers killed in Hezbollah missile attack

GMT 11:52 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 03:50 2017 Sunday ,23 April

Drought-hit Somalia moves closer

GMT 09:30 2017 Saturday ,08 July

Law enforcement forces in N. Sinai in manhunt

GMT 09:20 2017 Sunday ,29 October

World downhill champion Stuhec out of Olympics

GMT 09:08 2017 Tuesday ,15 August

Iranian drone buzzes US aircraft over Gulf

GMT 08:28 2017 Friday ,07 July

Beauty & hair magazine

GMT 12:10 2015 Thursday ,26 November

UAE Space Agency launches Planet Mars contest

GMT 14:27 2018 Thursday ,01 November

German businesses support closer EU-Russia ties

GMT 14:56 2018 Monday ,08 October

Barca held again as Sevilla lead La Liga

GMT 22:20 2012 Thursday ,08 November

RMA launches manufacturing plant in Bahrain

GMT 18:27 2014 Saturday ,27 December

Internet outage in area between Cairo, Kafr el-Dawwar

GMT 10:40 2018 Monday ,24 September

South Korea-Japan summit to be held

GMT 09:56 2018 Tuesday ,18 September

Gulf Air receives Thales InFlyt Experience officials

GMT 22:52 2018 Wednesday ,05 September

Porcshe GT3 back for 10th season
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday