Egypt’s Nargis-1 well offshore gas field backed by Eni and Chevron is expected to start production within 1-1/2 years, Oil Minister Tarek al-Molla said on Tuesday.
The minister made his remarks during the second day of the 2023 Egypt Petroleum Show (EGYPS).
In January, the Egyptian Natural Gas Holding Co. (EGAS) announced in a joint statement the new gas find in an Egyptian offshore field in the Eastern Mediterranean Sea.
The new gas find is located in the Nargis-1 exploration well and Eni said it can be developed leveraging the proximity to its existing facilities.
The Nargis-1 well is part of Egypt’s 1,800-sq. km Nargis Offshore Area concession operated by Chevron, with a 45 percent interest in it. Eni also owns a 45 percent stake, while Egypt’s Tharwa Petroleum Company has a 10 percent interest.
