{"id":578151,"date":"2022-12-18T04:00:23","date_gmt":"2022-12-18T04:00:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/"},"modified":"2022-12-18T04:00:23","modified_gmt":"2022-12-18T04:00:23","slug":"el-molla-confirms-large-east-med-gas-find","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/","title":{"rendered":"El Molla confirms large East Med gas find"},"content":{"rendered":"

<\/a> Oil Minister Tarek El Molla confirmed that a large gas discovery has been made in the <\/strong>Narges block<\/strong> in the Eastern Mediterranean during a briefing to the House Energy Committee, Youm7<\/a> reported Thursday.<\/p>\n

A report of a big gas find landed a few weeks ago:<\/strong> The Middle East Economic Survey reported earlier this month<\/a> that a field holding an estimated 3.5 tn cubic feet of gas had been discovered by Chevron. El Molla declined to disclose any figures during the briefing, telling MPs that companies are still evaluating its size.<\/p>\n

The Narges block is mostly foreign-operated: <\/strong>US energy giant Chevron holds 45% operating interest, Italian Eni owns 45% and state-owned Tharwa Petroleum holds the remaining 10%.<\/p>\n

We need the extra gas:<\/strong> Egypt is trying to maximize its exports of natural gas amid a growing shortage of FX. It is rationing its usage of gas<\/a> for domestic power production and turning to other types of fuel<\/a> in order to free up more gas for export. The find comes at a good time for Egypt, which has seen output fall from a peak of 7.2 bn cf per day last September to 6.5 bn cf\/d in 3Q 2022, according to MEES.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil Minister Tarek El Molla confirmed that a large gas discovery has been made in the Narges block in the Eastern Mediterranean during a briefing to the House Energy Committee, Youm7 reported Thursday. A report of a big gas find landed a few weeks ago: The Middle East Economic Survey reported earlier this month that […]<\/p>\n","protected":false},"author":1,"featured_media":578152,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[780,92,93,197,72,91,195],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-chevron","tag-eastern-mediterranean","tag-energy","tag-eni","tag-enterpriseam","tag-oil-and-gas","tag-tarek-el-molla","wpautop","entry"],"acf":{"mongo_id":"efbc085a-ce5a-433e-8c68-23a43a372088","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/359.jpg","photo_position":"above","related_issue":[578137],"teaser":"","voice_url":""},"yoast_head":"\nEl Molla confirms large East Med gas find - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Molla confirms large East Med gas find\" \/>\n<meta property=\"og:description\" content=\"Oil Minister Tarek El Molla confirmed that a large gas discovery has been made in the Narges block in the Eastern Mediterranean during a briefing to the House Energy Committee, Youm7 reported Thursday. A report of a big gas find landed a few weeks ago: The Middle East Economic Survey reported earlier this month that […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-18T04:00:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/359.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"El Molla confirms large East Med gas find\",\"datePublished\":\"2022-12-18T04:00:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/\"},\"wordCount\":201,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/359.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Chevron\",\"Eastern Mediterranean\",\"energy\",\"Eni\",\"EnterpriseAM\",\"oil and gas\",\"Tarek El Molla\"],\"articleSection\":[\"Energy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/18\/el-molla-confirms-large-east-med-gas-find\/\",\"name\":\"El Molla confirms large East Med gas find - 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The discovery was made at their Nargis offshore block off the coast of North Sinai, in which each company holds a 45% interest, while state-owned Tharwa Petroleum\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/243.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":603781,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/21\/dragon-oil-wants-a-piece-of-the-nargis-eastmed-concession\/","url_meta":{"origin":578151,"position":4},"title":"Dragon Oil wants a piece of the Nargis EastMed concession","author":"enterpriseam admin","date":"21 August 2023","format":false,"excerpt":"Dragon Oil could purchase a 20% stake in the field from the US energy giant","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/928.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606694,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/20\/chevron-to-invest-usd-3-bn-in-egypts-nargis-gas-field\/","url_meta":{"origin":578151,"position":5},"title":"Chevron to invest USD 3 bn in Egypt\u2019s Nargis gas field","author":"enterpriseam admin","date":"20 September 2023","format":false,"excerpt":"Shell acquired the North East El Amriya block from ExxonMobil in 2022","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1247.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=578151"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578151\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578137"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578152"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578151"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578151"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}