Italian major Eni has discovered
what could become one of the world's largest natural gas finds. The company
said Sunday that the discovery offshore Egypt could hold a potential of 30 Tcf
of lean gas in place (5.5 BBoe in place). Covering an area of approximately 100
square kilometers, it's the largest gas discovery ever made in Egypt and in the
Mediterranean Sea, according to reports by Jeff Reed on Oilpro.
Eni CEO Claudio Descalzi
characterized the discovery as a game-changer in a Monday interview with CNBC.
"It is changing the game for Egypt…It is very important for Egypt, but
also for the Mediterranean in terms of stability," he said.
After its full development, the
field will be able to satisfy Egypt's natural gas demand for decades, the
Italian major said. The announcement comes amid a more than six-decade alliance
between the Italian major and Egypt.
The discovery well Zohr 1X NFW is
located in the economic waters of Egypt’s Offshore Mediterranean, in 4,757 feet
of water depth, in the Shorouk Block, signed in January 2014 with the Egyptian
Ministry of Petroleum and the Egyptian Natural Gas Holding Company (EGAS)
following a competitive international Bid Round.
Zohr 1X NFW was drilled to a
total depth of approximately 13,553 feet and hit 2,067 feet of hydrocarbon
column in a carbonate sequence of Miocene age with excellent reservoir
characteristics. Zohr’s structure has also a deeper Cretaceous upside that will
be targeted in the future with a dedicated well.
In the CNBC interview, Descalzi
did not give a timeline for when the natural gas might hit the market. However,
he said developments would be rapid as the gas field was situated near Eni's
processing facilities.
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