Italy’s Eni has made a new natural gas discovery at the offshore Nour gas field in the East Mediterranean, the company announced on Thursday (pdf). The discovery well, the Nour-1 New Field Wildcat, reached a depth of 5,914 meters (19,403 feet). The well has not yet been tested, but the company said it has acquired “intense and accurate” data. The well revealed “33 meters of gross sandstone pay with good petrophysical properties and an estimated gas column of 90 meters.” The discovery is on the upper formations, as the lower formations have failed to yield positive results, a source from the Oil Ministry said following the discovery, according to Ahram Gate.
More from Enterprise
The digital EGP won’t look different at checkout — but it will work nothing like InstaPay
Every instant payment today depends on your bank or telco.…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Inside the retail wave reshaping EGX
Individuals are setting EGX prices day to day, trading on…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…