Petroleum Africa
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Wednesday, August 15, 2018
ENI was issued a new Nile Delta Concession Agreement by Egyptian authorities. The new agreement allows for a 10-year extension of ENI’s Abu Madi West Development Lease, where the Nooros field is located. It also allows for further exploration activities within the El Qar’a Exploration Lease. Both the Abu Madi West and the El Qar’a make up the Greater Nooros Area
Furthermore, ENI was authorized a five-year extension on the Ras Qattara Concession Agreement and relevant Development Lease. Following this extension, a new drilling campaign in the Zarif and Faras fields will unlock remaining hydrocarbon reserves and allow further exploration activities within the Western Desert basin.
The Great Nooros asset area’s lease extension strengthens ENI’s gas portfolio while confirming the success of its strategy of near field exploration that has revitalized production in the Nile Delta area
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