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20Jul15

Important gas discovery in the Egyptian Nile Delta

Eni has made an important gas discovery in the Nooros exploration prospect, located in the Abu Madi West license in the Nile Delta, 120 kilometers north-east of Alexandria, Egypt.

Preliminary estimates of the discovery account for a potential of 15 billion cubic meters of gas in place with upside, plus associated condensates.

Eni achieved the important exploration success through the Nidoco NW2 Dir NFW well, which reached a total depth of 3,600 meters and encountered a 60 meters thick gas bearing sandstone interval of Messianian age with excellent petrophysical properties, further of other gas layers in the overlying Pliocene section.

The new discovery will be put into production in two months' time through a tie-in to the existing Abu Madi gas treatment plant, located 25 kilometers south-east.

This discovery is the result of the new Eni's strategy to re-focus its activity on near field and incremental exploration opportunities with high potential value, which allow in case of success their quick exploitation through the already existing and synergic nearby infrastructures.

Eni, through its subsidiary Ieoc Production BV, holds a 75% of working interest in the West Abu Madi development lease, with BP as a partner with 25%. Petrobel, equally owned by Ieoc (50%) and EGPC (50%), is the operator of the concession.

Eni has been present in Egypt since 1954 through its Ieoc subsidiary and is the main hydrocarbon producer in the country, with a daily equity production of 180,000 barrels of oil equivalent.

[Source: ENI, San Donato Milanese, Milan, 20Jul15]
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