US oil and gas super major, ExxonMobil Corporation, has announced a major natural gas discovery in the Mediterranean Sea, off the coast of Egypt.
The discovery was made after the successful drilling of an exploration well in the North Marakia Block, located approximately five miles off Egypt’s northern coast.
According to ExxonMobil, the Nefertari-1 well encountered gas-bearing reservoirs, and the company will continue to evaluate the results.
This discovery has the potential to significantly contribute to Egypt’s energy sector and bolster the country’s position as a major natural gas producer.
The Eastern Mediterranean has emerged as a hotspot for energy exploration in recent years, driven by several significant natural gas discoveries in 2009 and 2010.
The region’s proximity to energy-hungry markets in Europe and the Middle East makes it an attractive location for energy companies.
ExxonMobil is not alone in its exploration efforts in the region.
Other major energy companies, including Chevron, BP, Shell, and Eni, also have assets and exploration plans in the area.
ExxonMobil entered the North Marakia block in 2019 and subsequently sold a 40% stake to QatarEnergy in 2022. The discovery well was drilled using the Valaris DS-9 drillship.
This significant discovery is expected to have a positive impact on Egypt’s energy sector and the regional energy landscape.
Source: https://energynewsafrica.com
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