Chevron has begun drilling a new well in Egypt’s Nargis natural gas field as part of ongoing efforts to develop the discovery made in 2022.
Chevron is leading the development of the project in partnership with Eni, alongside Mubadala Energy and Tharwa Petroleum Company. The Nargis field is located in the East Nile Delta Basin, about 50 kilometers offshore.
Eng. Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, recently visited the drilling vessel Stena Forth to review the start of drilling operations after its arrival in Egypt to work on the field.
Badawi said the new well supports the Ministry’s strategy of encouraging international energy companies to speed up the development of undeveloped gas discoveries, including the Nargis field, and bring them into production.
The Egyptian government continues to promote investment and offer incentives for exploration and production activities as it seeks to reverse declining output and reduce energy imports. The current situation in the Middle East has added urgency to these efforts. Increased exploration activity and several promising discoveries suggest the strategy is beginning to deliver results.
One of the latest discoveries came from Agiba Petroleum Company, a joint venture between the two and Eni, in Egypt’s Western Desert. The company described it as its most significant discovery in the past 15 years.
The Ministry reported that Agiba made the discovery through the South Bostan-1X exploratory well, which the EDC-9 rig operated by the drilled. Early estimates point to reserves of about 330 billion cubic feet of gas and 10 million barrels of condensates and crude oil, with total recoverable reserves estimated at 70 million barrels of oil equivalent.
source: oilreviewafrica.com
African Energy Council