Egypt Announces Major Natural Gas Discovery in Mediterranean Sea
(MENAFN) Egypt has announced a new natural gas discovery in the Mediterranean Sea, with preliminary estimates indicating potential reserves of approximately 200 billion cubic feet.
The Ministry of Petroleum and Mineral Resources said drilling and assessment operations at the Nasseem-1X exploratory well in the Tiba concession area identified a gas-bearing formation with promising geological and physical properties.
According to the ministry, the well revealed a gas-bearing layer measuring approximately 15 meters (49 feet) in thickness.
Technical assessments are ongoing to establish the volume of recoverable reserves and determine the well's potential daily production capacity. However, the ministry has not yet provided a timeline for the start of commercial production.
The Tiba concession is operated by Italian energy company Eni in partnership with Australia's Woodside, while Egypt's Petrobel is responsible for conducting drilling operations on behalf of the partners.
The Ministry of Petroleum and Mineral Resources said drilling and assessment operations at the Nasseem-1X exploratory well in the Tiba concession area identified a gas-bearing formation with promising geological and physical properties.
According to the ministry, the well revealed a gas-bearing layer measuring approximately 15 meters (49 feet) in thickness.
Technical assessments are ongoing to establish the volume of recoverable reserves and determine the well's potential daily production capacity. However, the ministry has not yet provided a timeline for the start of commercial production.
The Tiba concession is operated by Italian energy company Eni in partnership with Australia's Woodside, while Egypt's Petrobel is responsible for conducting drilling operations on behalf of the partners.
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