The new gas field
ranks among the largest worldwide; it currently ranks 20th, and according to
Eni it is the fourth largest discovery in the last 10 years. According to
Egyptian energy experts, it should work to meet a large portion of Egypt’s
energy needs for many decades to come
The International Monetary Fund (IMF) declared in a statement that the
recently discovered natural gas field inside Egypt’s territorial waters in the
Mediterranean is expected to improve the energy situation in Egypt and boost
the country’s economy.
Eni was awarded the licence to operate the offshore Mediterranean
concession as a result of rounds of bidding held in 2013 by the Egyptian
Natural Gas Holding Co. (EGAS).
The agreement was signed in January 2014
between Eni, EGAS and the Ministry of Petroleum ... more information in wataninet.com
