Egypt confirms large finds on offshore Nargis play

CAIRO, December 19, 2022 – The government has confirmed plans to develop significant gas finds at the offshore Nargis block in Egypt, Egyptian Petroleum Minister Tarek El Molla announced on Tuesday.

According to the Middle East Economic Survey Operator Chevron discovered 99.1 bcm (3.5 tcf) of gas at the Nargis-1 well in October using the Stena Forth drillship.

Officials have not yet confirmed the exact size of the find.

The drillship is continuing its work on the Nargis block, which is located 60 kilometres from the Sinai Peninsula, 80 kilometres from existing gas infrastructure and 70 kilometres from the dormant Gaza Marine discovery.

Chevron holds a 45% stake in the Nargis block, with partners Eni with a similar 45% share and local energy player Tharwa Petroleum Company with the remaining 10% stake.

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