Eni wins Egypt exploration licenses

Italy’s oil and gas company Eni said it has secured five new exploration licenses in Egypt, which could provide additional fuel to the Damietta LNG plant.

Eni won the licenses after Egypt’s international bid round for petroleum exploration and exploitation.

It said in a statement this week it would operate four out of the five awarded licenses.

The licenses are located in the Eastern Mediterranean Sea, Western Desert and Gulf of Suez, placed within prolific basins with petroleum systems that can generate liquid and gaseous hydrocarbons.

Additionally, the licenses can also rely on nearby existing production and processing facilities, the company said.

Eni’s strategy is to keep exploring and producing gas to sustain the Egyptian domestic market and contribute to LNG export, thanks to the recent restart of the Damietta LNG plant, it said.

The plant started exporting LNG again in February last year following a deal between Egypt’s EGPC and EGAS, Eni, and Spain’s Naturgy.

Eni owns 50 percent in SEGAS, the owner of the liquefaction plant, while the Egyptian Natural Gas Holding Company (EGAS) owns 40 percent, and the Egyptian General Petroleum Corporation (EGPC) holds 10 percent.

Eni is currently Egypt’s main producer with equity hydrocarbon production of around 350,000 barrels of oil equivalent per day.

Most Popular

Kimmeridge’s Commonwealth inks long-term LNG supply deal with Glencore

Under the heads of terms, Glencore will buy 2 million tonnes per annum of LNG for 20 years from...

Gunvor’s unit takes Pertamina’s PGN to arbitration over LNG supply dispute

Gunvor Singapore initiated the arbitration processes on September 13, according to PGN. The case was filed with the London Court...

Woodside CEO says Tellurian deal was ‘too good to pass up’

"When the Tellurian opportunity crossed our desk, we thought.. this is really too good to pass up," O'Neill...

More News Like This

ExxonMobil’s Rovuma LNG moves to FEED stage

Frank Kretschmer, president of ExxonMobil Mozambique, confirmed this via his LinkedIn account last week. "This milestone represents a crucial step...

Kotug lands Congo FLNG gig from Eni

Dutch towage firm Kotug has secured a contract from Italian energy firm Eni to provide marine services for the...

Eni’s Mozambique FLNG hits new milestone

Eni’s 3.4 mtpa Coral Sul FLNG located offshore Mozambique has achieved a new production milestone. The Italian company announced on...

ExxonMobil plans Rovuma LNG FID by 2026

According to the official Facebook page of Filipe Nyusi, he met with ExxonMobil's upstream president Liam Mallon on Wednesday...