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Italy's Eni, Egypt's Thawra to start exploration in new N.Sinai field in two months

The Italian company Eni and the Egyptian Thawra are expected to start within two months drilling an exploratory well at Noor field, offshore the Mediterranean Sea in Egypt’s North Sinai, Egyptian oil ministry spokesman Hamdi Abel Aziz said on Thursday.

The companies will start exploration as they attained cabinet's approval on a $ 105 million exploration deal.

The two-stage exploration will last for six years with each stage scheduled to take three years.

Under the deal, the two companies will initially invest about $ 75 million in drilling the well and another well will be drilled in the second stage.

Noor field is 730 square kilometers and its depth ranges between 200 to 350 meters.

In 2015, Eni discovered the giant Mediterranean gas field Zohr, estimated to hold about 30 trillion cubic feet of gas, thus raising interest in gas exploration in Egypt.

 

 

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