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.

- Advertisements -
spot_img

Most Popular

Teekay LNG to become Seapeak after $6.2 billion deal

Teekay LNG Partners will rebrand as Seapeak following the completion of its previously announced $6.2 billion merger deal with...

Taiwan plans to build up to 16 LNG carriers

Taiwan is looking into building a national fleet of up to 16 new liquefied natural gas (LNG) carriers. The country...

Greece’s TEN takes delivery of LNG newbuild

Greek shipping firm Tsakos Energy Navigation (TEN) has taken delivery of a brand new LNG carrier from South Korea's...

More News Like This

Nortrans strikes accommodation contract for Coral Sul FLNG project

Singapore-based Nortrans Offshore said it has won an accommodation contract with Technip Energies to provide one of its flotel’s...

Eni’s floating LNG producer arrives in Mozambique

Eni’s floating LNG producer, Coral Sul FLNG, has finally arrived in Mozambique following a long journey from South Korea. The...

Coral Sul FLNG nearing its home off Mozambique

Eni’s Coral Sul FLNG has entered the final stage of its long journey from South Korea to Mozambique. The 432...

Greece, Egypt to expand LNG cooperation

Greece and Egypt are looking to expand their cooperation in the supply of liquefied natural gas (LNG) as part...