Yunus Kemp
This follows the discovery, announced in January, in the Nargis Offshore Area Concession which added reserves of 2.5 trillion cubic feet. The discovery is located in the Eastern Mediterranean off the Egyptian coast.
The Narges 1 well was drilled to a depth of 309 metres and has an estimated volume of reserves amounting to 2.5 trillion cubic feet of gas, the Egyptian government said.
“This has contributed to the interest of a number of international companies to develop the field and work on more explorations the government said.
“This has contributed to the interest of a number of international companies to develop the field and work on more explorations the government said.
The discovery of the new gas field comes at a time when Egypt is seeking to increase its gas reserves and exports for which demand has grown worldwide.
