June 28, 2018 / 7:01 AM / 2 months ago

Eni to begin gas exploration at Egypt Noor field in two months

CAIRO (Reuters) - Italian oil company Eni (ENI.MI) will begin drilling an exploratory well at its Noor field in Egypt’s North Sinai in two months, Egyptian oil ministry spokesman Hamdi Abel Aziz told Reuters on Thursday.

The logo of Italian oil and gas group Eni is seen on the facade of its headquarters in Rome, Italy, December 23, 2017. REUTERS/Alessandro Bianchi

Egypt’s cabinet approved the $105 million (80.32 million pounds) deal to explore the North Sinai region of the Mediterranean Sea in March.

Eni’s discovery of the giant Mediterranean gas field Zohr in 2015, estimated to hold about 30 trillion cubic feet of gas, has raised interest in gas exploration in Egypt.

The company has not said what level of reserves they expect Noor to contain, and the exploratory well will help to begin determine that, Abdelaziz said.

Reporting by Ahmed Ismail; Writing by Eric Knecht. Editing by Jane Merriman

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