Eni has received 5 new exploration licenses by the Egyptian Ministry of Petroleum, that are positioned within the Jap Mediterranean Sea, Western Desert and Gulf of Suez
The licenses, 4 of which as operator, are within the Egyptian offshore and onshore, and comply with the profitable participation to the 2021 aggressive “Egypt Worldwide Bid Spherical for Petroleum Exploration and Exploitation” which was beforehand introduced by the Egyptian Common Petroleum Company and the Egyptian Pure Gasoline Holding Firm by the Egypt Exploration and Manufacturing Gateway.
The licenses are positioned within the Jap Mediterranean Sea (Block ‘EGY-MED-E5’ in partnership with BP 50%-50% and Block ‘EGY-MED-E6’ IEOC 100%), within the Gulf of Suez (Block ‘EGY-GOS-13’ IEOC 100%) and within the Western Desert (Blocks ‘Egy-WD- 7’ in partnership with APEX 50%-50% and ‘EGY-WD-9’ IEOC 100%) with a complete acreage of about 8,410 sq km.
The licenses are positioned inside prolific basins with proved petroleum techniques in a position to generate liquid and gaseous hydrocarbons and may also depend on close by current producing and processing services and on a demanding market that can permit a fast valorisation of the potential exploration discoveries.
The bid outcomes are aligned with Eni’s technique to hold exploring and producing gasoline to maintain the Egyptian home market and contribute to LNG export, because of the current restart of the Damietta LNG plant.