Egypt: Eni discovers gas near Alexandria |
July 20, 2015 |
Italy's Eni has discovered gas reserves of up to 15 billion cubic metres in Egypt's Nile Delta region, with production set to start in two months, the Egyptian oil ministry said on Monday.
The discovery was made in Western Abu Madi, 120 km northeast of Alexandria, where Eni holds 75 percent of exploration rights through an Egyptian subsidiary, with Britain's BP holding a 25 percent stake.
The oil ministry signed a $2 billion energy exploration deal with Eni in June.
Eni has operated in Egypt for more than 60 years through its Egyptian subsidiary IEOC and is one of the main energy producers in the country, with a daily output of around 180 thousand barrels of oil equivalent. |