Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

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

Shell wraps up acquisition of Pavilion Energy

UK-based LNG giant Shell has completed its previously announced acquisition of Singapore's Pavilion Energy.

India’s ONGC approves Mozambique LNG investment

India’s state-run ONGC has approved an investment by its unit, ONGC Videsh, into the TotalEnergies-led Mozambique LNG joint venture, which is developing a 12.8 mtpa liquefaction plant at the Afungi complex.

Australia’s Viva Energy seeks FSRU for Geelong project

Australia’s Viva Energy is looking to secure a floating storage and regasification Unit (FSRU) for its proposed LNG import terminal in Geelong, Australia.

More News Like This

Adnoc’s XRG wraps up Mozambique deal

Adnoc's investment unit XRG has completed the purchase of Galp’s 10 percent interest in the Area 4 concession of the Rovuma basin in Mozambique, which includes Eni’s Coral South FLNG project.

Vitol to buy stake in Eni’s Congo LNG project

Geneva-based energy trader Vitol has agreed to buy a stake in Eni's Congo LNG project as part of a...

Eni’s 2024 LNG sales climb

Italian energy firm Eni boosted its liquefied natural gas (LNG) sales in 2024, mainly due to the launch of its Congo FLNG project.

Eni and Petronas plan to create ‘major’ LNG player in Malaysia, Indonesia

Italy's Eni and Malaysia's Petronas plan to establish a joint venture company to oversee selected upstream assets in Indonesia and Malaysia.