Eni discovers largest known gas field in Mediterranean

[Valin]

The Guardian/Reuters:

Italian energy group says Zohr field off Egyptian coast could hold as much as 30tn cubic feet of gas and that more may be found in future drilling

Aug. 30 2015

 

 

The Italian energy group Eni has discovered the largest known gas field in the Mediterranean off the Egyptian coast and predicted that the find could help meet Egypt’s gas needs for decades. Eni said in a statement that the Zohr field, which covers an area of about 60 square miles (100sq km), could hold as much as 30tn cubic feet of gas.

“Zohr is 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,” it said, adding that it had full concession rights to the area.

 

The find follows other significant gas discoveries in the Mediterranean in recent years. They are expected to have a major impact on the region’s economy and potentially offer Europe new supply options, allowing it to reduce its dependence on Russian gas imports. It also represents a major boost for Egypt, where power cuts caused by gas and oil shortages have often fuelled unrest.

Eni said the discovery was at a depth of 1,450 metres (4,757 ft), and that it planned to fast-track development of the site using existing infrastructure. It said yet more gas might be discovered in future drilling.

 

(Snip)

 

H/T Via Meadia