ENI Gets New East Delta Concession

Wednesday, August 15, 2018

ENI signed an agreement for a new concession in Egypt. The concession, the Nour, is located offshore Egypt in the East Nile Delta Basin. The concession is located in water depths ranging from 50 to 400 meters and covers a total area of 739 sq km.

According to a statement released by the Italian firm, it plans to proceed with the drilling of an exploration well in H2 2018.

This new acquisition further strengthens ENI’s position in Egypt.

Nour is operated by ENI through its subsidiary IEOC. In the concession, which is in participation with EGAS, the company holds an 85% stake in partnership with Tharwa Petroleum Company, which holds a 15% stake.

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