Egyptian Petroleum and US Chevron Announce Positive Results for Gas Well in the Mediterranean - Sarmad

(KUNA) – Egypt’s Ministry of Petroleum and Mineral Resources and the American company Chevron announced on Saturday that they achieved positive results from drilling the “Nargis 2” natural gas well in the Mediterranean Sea, which began last May in cooperation with the Egyptian Natural Gas Holding Company (EGAS). The ministry stated in a press release that the final depth of the well exceeded 5,000 meters, and evaluation results revealed gas-bearing layers with a net thickness of up to 35 meters, a positive indicator supporting the continuation of technical studies to determine the total potential of the discovery and assess opportunities for its development. The statement added that these results bolster ongoing efforts to evaluate the discovery of the aforementioned well, which was confirmed in 2022, and accelerate work toward the commercial exploitation of the field as one of the undeveloped discoveries, by confirming the extension of gas-bearing layers previously discovered in the “Nargis 1” well, alongside the discovery of an additional gas-bearing layer with favorable characteristics. This supports efforts to evaluate gas resources in the area and study opportunities for their exploitation. It was noted that the drilling operations aimed to evaluate the extensions of the discovery, as well as test deeper geological layers, as part of efforts to expand exploration and exploration activities and maximize the benefits of the promising potential of the Mediterranean, including formations with high pressures and temperatures.