Eni and BP make new gas discovery offshore Egypt

17 September 2020 (Last Updated September 17th, 2020 12:37)

Italian oil and gas firm Eni and its partner BP have announced the discovery of new gas in the Great Nooros area, in the Abu Madi West Development lease, offshore Egypt.

Eni and BP make new gas discovery offshore Egypt
Eni, through its subsidiary IEOC, owns a 75% stake in the license of Abu Madi West development lease. Credit: wasi1370 from Pixabay.

Italian oil and gas firm Eni and its partner BP have announced the discovery of new gas in the Great Nooros area, in the Abu Madi West Development lease, offshore Egypt.

The discovery has been made at the Nidoco NW-1 exploration well in a water depth of 16m. It is 5km from the coast and 4km north from the Nooros field that was discovered in 2015.

Eni has discovered 100m of gas-bearing sands at the exploration well, which comprises 50m in the Pliocene sands of the Kafr-El-Sheik formations and the remaining 50m in the Messinian age sandstone of the Abu Madi formations.

In a press statement, Eni said: “The preliminary evaluation of the well results, considering the extension of the reservoir towards north and the dynamic behaviour of the field, together with the recent discoveries performed in the area, indicates that the Great Nooros Area gas in place can be estimated in excess of 4Tcf.”

Through its subsidiary IEOC, Eni owns a 75% stake in the licence of Abu Madi. BP holds the remaining 25% stake in the licence.

Petrobel serves the operator of the Abu Madi licence. It is an equal joint venture (JV) between IEOC and state company Egyptian General Petroleum.

Eni has been operating in Egypt since 1954 through IEOC Production.

In July, Eni discovered a significant hydrocarbon accumulation on the Ken Bau discovery located in Block 114, Song Hong Basin, offshore Vietnam.

In April, Eni registered an adjusted operating profit of €1.31bn ($1.41bn) in the first quarter of this year, a 44% fall compared to the first quarter of last year.