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Eni announces important new gas discovery off Egyptian coast

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The Italian company Eni announced the discovery of a new gas field in the Narges concession area in the eastern Mediterranean off the coast of Egypt.

The Italian company’s statement, released today Sunday, added that the discovery is considered one of the most important discoveries in the Narges-1 area, located in the eastern Mediterranean, and the company will work to develop this gas-rich area. after accepting gas exploration tasks following the conclusion of an agreement with the Egyptian government.

Eni has been present in Egypt since 1954 and is now the leading producer in the country with a primary hydrocarbon production of around 350,000 barrels of oil per day.

In line with its net zero strategy by 2050, Eni is involved in a number of initiatives aimed at decarbonizing the Egyptian energy sector, including the development of CCS plants, renewable energy plants, agricultural raw materials for biorefining and others.

Source: Cairo News Channel.

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