Egypt Strikes 200 Billion Cubic Feet of Gas
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MENAFNThe Ministry of Petroleum and Mineral Resources said the Nasseem-1X exploratory well, drilled in the Tiba concession area, hit a gas-bearing formation with promising geological and physical properties. The formation is about 15 meters (49 feet) thick.
Technical studies are underway to establish how much of the gas can be recovered and what daily output could be. The ministry has not said when production might start.
Eni, the Italian energy company, operates the Tiba concession in partnership with Australia’s Woodside. Petrobel, an Egyptian company, carried out the drilling on the partners’ behalf.
Fast-track pipeline plan
The ministry plans to link the well to existing production facilities by a pipeline of about 22 kilometers (13.7 miles). The route would tie into the Abu Madi-El Gamil pipeline, using infrastructure already in place to shorten the time before the gas reaches the market.
Once technical assessments are finished and commercial viability is confirmed, the find could lift domestic gas output, the ministry said.
It credited the result to higher investment and exploration activity, pointing to a better investment climate and progress in clearing overdue payments to international energy partners.
Egypt is working to raise domestic gas production by developing existing discoveries and speeding up exploration, aiming to meet local demand and cut its reliance on imports.
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