Egyptian President Abdel-Fattah El-Sisi called for increased research, exploration and production activities and efforts in coordination between the Ministry of Petroleum and the Italian oil and gas company Eni.
Under the Egyptian Presidency, the Egyptian President aims to achieve optimal use of Egypt’s natural resources and the gas and energy sector, as well as to continue the path of fruitful cooperation between the state and Eni.
Bassam Radi, a spokesman for the Egyptian president, said that the head of the Italian company Eni, during a meeting with Sisi, reviewed the company’s current and future plans for gas exploration and production in Egypt in light of the fact that it is a regional center for the circulation and production of energy and liquefied gas, which is becoming an increasingly important position in the context of global events, the current energy crisis, and also given the promising opportunities and potential of Egypt in this area.
Al-Sisi’s speech came after the discovery of a new gas well in its areas of operation in Egypt, called Narges 1, was announced in early December, according to a post by the Egyptian Information Service on its Facebook page.
Authorities said the new well is located in the Narges Offshore Zone in the Mediterranean near Arish in North Sinai, where the Narges offshore concession area is 445,000 acres and Chevron is the operator with a 45% share of the concession, with 100% EOIC owning 45 % of the concession, and Tharwa Petroleum Company owns 10% of the shares.
Source: RT