//Business: Discovery of Mediterranean gas off Egypt could generate 32mn cubic feet per day – El-Molla

Business: Discovery of Mediterranean gas off Egypt could generate 32mn cubic feet per day – El-Molla

The new gasoline discovery off Egypt’s Mediterranean coast could produce up to 32 million cubic ft per day, its Petroleum Minister Tarek El-Molla said on Tuesday.

Earlier this month, Eni, along with contractors BP and Total, effectively drilled the first exploration well in the North El-Hammad concession at Bashrush prospect, which Eni operates.

French oil employer Total said, alongside with companions BP and Eni, it had made a fuel discovery at a properly off the coast of Egypt.

In 2015, Eni was awarded a 37.5 percentage share in the North El-Hammad licence block; the UK’s BP holds 37.5 percent and Total holds the ultimate 25 percent. Exploration by using the three agencies started three years later.

The new discovery is located at a depth of 22 metres, and is 11 kilometres from the coast. It is also close to the Nooros and Baltim South West offshore fields, each of which are also operated with the aid of Eni.

Eni has been operating in Egypt considering that 1954 via its subsidiary IEOC, and its modern each day manufacturing is estimated at 280,000 barrels of oil equivalent.

amwalalghad