Chevron has made a new gas discovery in the Mediterranean Sea that will assist in further evaluating the Nargis field and its development opportunities. This discovery strengthens Egypt's efforts to utilize energy resources in the Mediterranean Sea.
Details of the Drilling Operations
The Ministry of Petroleum and Mineral Resources of Egypt has announced positive results from the drilling operations at the Nargis-2 natural gas well. This operation began in May of this year and involves collaboration between Chevron, its partners, and the Egyptian Natural Gas Holding Company (EGAS). The results obtained from the drilling indicate that this well has been drilled to a depth of over 5,000 meters and helps in assessing the continued existence of gas in the Nargis field.
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New Advances in Gas Discovery
The Egyptian Ministry of Petroleum has emphasized that the drilling results indicate the presence of up to 35 meters of pure gas reserves, which will aid in technical studies to determine the overall potential of this discovery and assess its development prospects. Additionally, these results indicate an expansion of gas reserves in the Nargis-1 well and point to the discovery of a new gas layer with high-quality reservoir characteristics.
This discovery is part of the Egyptian Ministry of Petroleum's strategy to accelerate the development of gas discoveries, helping investors strengthen exploratory activities and convert discovered resources into producible reserves. Karim Badawi, the Minister of Petroleum and Mineral Resources of Egypt, who oversaw the commencement of drilling operations at the Nargis-2 well, emphasized the importance of accelerating the assessment and development of gas discoveries and the need to enhance cooperation with international energy companies to exploit the country's oil and gas resources.
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