Eni and Chevron discovered a new gas field on the Egyptian offshore

American energy corporation Chevron and Italian oil and gas major Eni said that they had discovered new gas deposits. It is located on the eastern part of the Mediterranean Sea at the Egyptian offshore zone. 

The Nargis-1 well is part of a field whose area is 1800 square kilometers. It belongs to the Nargis Offshore Area concession. Chevron owns 45% of this concession, and Eni also holds 45%. The remaining 10% belongs to the Egyptian company Tharwa Petroleum Company SAE.

According to head of Chevron International Exploration and Production Clay Neff, the company is encouraged by the success of the first exploration well.

Chevron states that the exploitation of a new reserve can go quite fast as it is situated not far from Eni objects.

Egypt increased its position as a gas producer after Eni discovered the large gas field Zohr in the Eastern Mediterranean in 2015. Amid the growing internal demand, gas imports to Israel also began to develop.