Italian oil company Eni has announced a new gas discovery in Egypt’s offshore Nour North Sinai Concession.
The new discovery is currently under evaluation and lies about 50 kilometres north of the Sinai peninsula.
The Nour-1 New Field Wildcat (NFW), which has led to the discovery, was drilled by the Scarabeo-9 semi-sub in a water depth of 295 metres and reached a total depth of 5,914 metres.
In a statement, Eni said: “Nour-1 well found 33 metres of gross sandstone pay with good petrophysical properties and an estimated gas column of 90 metres in the Tineh formation of Oligocene age.
“The well has not been tested, however, an intense and accurate data acquisition has been carried out.”
Eni is the operator of the concession, in partnership with Egyptian Natural Gas Holding Company (EGAS). The Italian oil and gas company has a 40 per cent stake of the contractor’s share.
UK-based BP holds a 25 per cent stake, UAE-based state-owned exploration and production company Mubadala Petroleum holds a 20 per cent stake, and Tharwa Petroleum Company a 15 per cent stake of the contractor’s share.
In its statement, Eni said: “The joint-venture operator will start the feasibility studies to accelerate the exploitation of these new resources, leveraging the synergies with existing facilities and infrastructures, after finalising the discovery evaluation.”
Eni is Egypt’s leading hydrocarbons producer by volume, producing more than 340,000 barrels of oil equivalent a day.
This is expected to see further growth in 2019 as the Zohr Project is ramped up to production plateau.
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