Natural Gas Discovery A Sea of Gas in the Mediterranean Sea

| Editor: Anke Geipel-Kern

Italian oil- and gascompany Eni discovers the largest gas field in the Mediterranean Sea, the Company says. Eni-CEO Claudio Descalzi emphasised the impact for the energy scenario of Egypt.

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Claudio Descalzi, Chief Executive Officer of Eni.
Claudio Descalzi, Chief Executive Officer of Eni.
(Bild: Eni)

The discovery could hold a potential of 30 trillion cubic feet of lean gas in place (5.5 billion barrels of oil equivalent in place) covering an area of about 100 square kilometres, the Company says. It has been named as the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world’s largest natural-gas finds, according to Eni.

This exploration success, after its full development, will be able to ensure satisfying Egypt’s natural gas demand for decades. Egypt is very important for Eni Group’s international strategy. The alliance that has lasted for more than 60 years.

Eni Ceo's Claudio Descalzi statement: „This historic discovery will be able to transform the energy scenario of Egypt in which we have been welcomed for over 60 years. The exploration activities are central to our growth strategy: in the last 7 years we have discovered 10 billion barrels of resources and 300 million in the first half of the year, confirming Eni’s leading position in the industry. This exploration success acquires an even greater value as it was made in Egypt which is strategic for Eni, and where important synergies with the existing infrastructures can be exploited allowing us a fast production startup.