Eni: assigned a new exploration license in the offshore of the country

Eni announces that the Egyptian Authorities have approved the assignment to the company of a new exploration license in the prolific basin of the Eastern Nile Delta, off the coast of Egypt.

The exploration license, called "Nour", is located about 50 kilometers from the coast and covers an area of ​​about 739 square kilometers with a water depth ranging from 50 to 400 meters. Eni plans to proceed with the drilling of an exploration well in the second half of the 2018.

This new acquisition further strengthens Eni's position in Egypt, an area of ​​historical and strategic importance for the company.

Nour is operated by Eni, through its subsidiary IEOC. Eni holds an 85% stake in the concession, which is held in equity with Egyptian Natural Gas Holding Company (EGAS). The other partner in the concession is Tharwa Petroleum Company, with the remaining 15%.

Eni is present in Egypt from 1954, where it operates through its subsidiary IEOC. The company is the leading producer in the country with an equity production of around 300.000 barrels of oil equivalent per day.

Eni: assigned a new exploration license in the offshore of the country

| Economics |