Italy’s ENI wrote on Monday it made a gas discovery in the Abu Madi West license in the Nile Delta, Egypt, saying that the preliminary estimates of the discovery indicate a potential of 15 billion cubic meters of gas in place with upside, plus associated condensates.
‘The new discovery will be put into production in two months’ time through a tie-in to the existing Abu Madi gas treatment plant, located 25 kilometres south-east’ the company wrote in a note.
The six-legged dog, which holds a 75% working interest through a subsidiary, is the first hydrocarbon producer in the country. Despite the current tensions in the region, ENI and BP (which holds 25% of the West Abu Madi lease) bet on Egypt. In particular, the Italian company is trying to remain committed, and increase efficiency.
‘This discovery is the result of the new ENI’s strategy to re-focus its activity on near field and incremental exploration opportunities with high potential value, which allow in case of success their quick exploitation through the already existing and synergic nearby infrastructures.’