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Eni Awarded 2 New Exploration Licenses Offshore Egypt

Source: www.gulfoilandgas.com 10/12/2015, Location: Africa

Eni has been awarded with two new exploration licenses located in the Egyptian offshore of the Mediterranean Sea, North El Hammad and North Ras El Esh, as a result of the competitive 2015 EGAS bid round.

Eni has been awarded a 37.5% participating interest and operatorship in North El Hammad, where it partners with BP (37.5%) and Total (25%), and a 50% participating interest in North Ras El Esh, where it partners with BP (50%) which will act as operator.

The two blocks, which will be managed by Eniís subsidiary IEOC, are in the shallow waters of the Mediterranean Sea, facing the Nile Delta and located southwest of the Temsah area and west of the Baltim area, where Eni operates existing fields and production facilities.

The North El Hammad and North Ras El Esh blocks cover areas of 1,927 and 1,389 square kilometers respectively.

These two new concession agreements follow the recent award of the deep water Karawan and North Leil blocks, strengthening Eniís presence in Egypt, a country of historic and strategic importance for the Company, and further relaunching its exploration activities after the recent and important successes of Nidoco NW and Zohr.

Eni has been present in Egypt since 1954 and is the main producer in the country with an equity of approximately 190,000 barrels of oil equivalent per day.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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