Italian oil and gas company Eni said it managed to drill the first exploration well in waters of Egypt’s Nile Delta, in cooperation with contractor members of BP and Total.
The well would be completed and put into production in the next few days with an expected initial flow rate of about 5.000 barrels per day.
This came during a meeting held between Descalzi and Minister of Petroleum Tarek el-Molla on the sidelines of Molla’s participation in the World Energy Conference in Abu Dhabi.
The current production at Meleiha, discovered in 2018, is at around 5.000 barrel of oil per day (BOPD) and is expected to reach 7.000 BOPD within September 2019.
The Health Ministry and Italy's Eni S.p.A. on Monday inked a cooperation protocol aiming at support the Egyptian health sector and benefiting from Italian expertise.
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 meters and reached a total depth of 5,914 meters.
This decision came after the Egyptian government signed an agreement with foreign partners of the project, as the plant is a joint venture between Union Fenosa Gas and the Italian Company Eni.
This decision came after the Egyptian government signed an agreement with foreign partners of the project.
Adjusted net profit was 1.459 billion euros ($1.65 billion), above an analyst consensus forecast provided by the company of 1.19 billion euros.
With a $1.8 billion investment from British Petroleum (BP), the country’s gas output is expected to reach peak production in 2019.
That came during a meeting with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Tarek el-Mulla.
Italian oil major Eni will look at the Iran sanctions measures to see if it can use Iranian crudes to allow it greater flexibility in procuring supplies.
The source added that the Italian company started digging in the last week of September, noting that the digging process will not take more than two months.
The sources added that Eni’s plan to develop the field is 2.7 billion cubic field of gas per day.
The country’s daily production of gas rose this month to 6.6 billion cubic meters from six billion cubic meters in July 2017.
Egypt has recently signed several oil agreements for the exploration of oil and gas in several areas, including the Mediterranean and the Gulf of Suez.
the ministry seeks to expand fuel stations at vital areas and encourage people to transform their vehicles to use natural gas as fuel.
The company added in a statement that the depth of the well recorded 17,000 feet, and found "several" layers that carry gas.
The company stated on Friday that gas production from Zohr field will expectedly hit two billion cubic feet a day as the company is slated to open the fifth processing facility in September
CEO of Engie Global LNG Philip Olivier lauded the achievements made by Egypt during the past period.