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Eni makes new gas find offshore Egypt

Italy's Eni SpA said March 14 it has made a new gas discovery in the Nour exploration prospect located offshore east Egypt.

The Nour-1 new field wildcat, which led to the discovery, was drilled to a water depth of 295 meters and reached a total depth of 5,914 meters. Initial tests found an estimated gas column of 90 meters.

The Nour North Sinai concession, which covers the prospect, is composed of project operator Eni with a 40% stake, while BP PLC holds a 25% interest, Mubadala Petroleum LLC owns a 20% share and Tharwa Petroleum SAE holds a 15% stake. The field is being developed with the participation of Egyptian Natural Gas Holding Co.

Eni will start the feasibility studies after finalizing the discovery evaluation.