December 16, 2017

Italy’s Eni discovers huge gas field off Egyptian coast – BBC News

Italian energy group Eni says it has found one of the world’s largest natural gas fields off Egypt’s coast. The company said the area was 1,450m (4,757 feet) beneath the surface and covered 100 sq km (39 sq miles). It could hold as much as 30 trillion cubic feet of gas, or 5.5 billion barrels of oil equivalent, Eni said. The company says that the Zohr field “could become one of the world’s largest natural-gas finds” and help meet Egypt’s gas needs for decades. “This historic discovery will be able to transform the energy scenario of Egypt,” said Claudio Descalzi,…

ENI/Lukoil Strike Oil and Gas in the Western Desert

ENI-Lukoil

Petroleum Africa ENI and Lukoil have made a new oil and gas discovery in Egypt’s Western Desert. The discovery was made with the drilling of the Melehia West Deep 1X well on the Melehia concession. The exploration well was drilled to a depth of 13,697.5 ft, intersecting a 65.6 ft net accumulation of light oil in the Lower Cretaceous age of the Alam El Bueib formation. The well also encountered a significant accumulation of gas and condensates in the Upper Jurassic age in the Safa formation. In a statement ENI said the well began production with an initial flow of…

Africa set for an oil and gas boom

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PM News Africa’s energy industry could boom in the coming years, with Mozambique and Tanzania set to emerge as new frontiers if they can attract enough badly needed investment, a report said Wednesday. Six of the top 10 global discoveries in 2013 were made in Africa, with more than 500 companies now exploring across to the continent, according to a study by PriceWaterhouseCoopers. Large gas finds in Mozambique and Tanzania would make the world “take note of east Africa as an emerging player in the global industry,” said the report’s advisory leader, Chris Bredenhann. The boom has brought investment opportunities,…