Eni to explore Egyptian Mediterranean

Italian giant, Eni, has signed two concession agreements to explore two blocks in the Mediterranean Sea offshore Egypt as part of the 2013 Egyptian General Petroleum Corp. (EGAS) bid round.

Blocks 8 and 9 are located near the boundary of Cypriot’s waters.

North Leil is located in Block 9, which covers 5105sq km and is in 2100-2800m water depth. Karawan is located in Block 8 that covers 4565sq km and is in water depths ranging from 2000-2500m.

Eni has been present in Egypt since 1954 and according to the company, is the main producer in the country with equity of approximately 210,000barrels of oil daily.

Eni is the operator in both concessions. The company, through subsidiary IEOC, holds 100% interest in North Leil and 50% interest in Karawan, with partner with BP (50%).

Source : Independent

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