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Eni takes new Egypt block, extends concessions

MILAN, August 14, 2018 – Eni has signed several agreements with the Egyptian government, including a new offshore concession in the East Nile Delta, the super-major announced on Tuesday.

 

Eni plans to drill an exploration well in the Nour licence, in which it now holds an 85% stake, in H2 2018. Tharwa Petroleum Company holds the remaining 15%.

In a separate statement, Eni said it had also further secured a 10-year extension of its lease for the offshore Abu Madi West Development and a five-year extension of its Ras Qattara onshore licence, located in the Western Desert.

“Following this extension, a new drilling campaign in the Zarif and Faras fields will unlock remaining hydrocarbon reserves and allow further exploration activities within the Western Desert basin,” the company statement said.

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