Italian energy company Eni on Sunday announced the discovery of an Egyptian offshore field in the Eastern Mediterranean Sea.
In a statement, the company said the field is located in Egypt’s territorial water near the eastern city of Rafah.
“The Nargis-1 well has encountered approximately 200 net feet (61 m) of Miocene and Oligocene gas bearing sandstones and was drilled in 1,014 feet (309 m) of water by the Stena Forth drillship,” it added.
“The discovery can be developed leveraging the proximity to Eni’s existing facilities,” the company said.
The company did not provide any figures regarding estimates of the natural gas in the field.
Egypt achieved self-sufficiency in gas in 2018, with an annual average of 64 billion cubic meters.
Egypt’s natural gas exports surged by 14.3 percent in 2022 to hit $8.4 billion.
