As Eni makes a new oil and gas discovery in Western Egypt, the future of energy in the oil-rich nation looks promising. Italian oil major, Eni, announced this week that it has made three new oil and gas discoveries in the Meleiha region of western Egypt, with oil reserves of an estimated 50 million barrels of crude, equating to 6,000 bpd of oil equivalent. EGPC as well as several international oil majors continue to pursue exploration and production operations across the country, with American Apache Corporation, the Italian Eni, the Emirati Dragon Oil and the Dutch Shell all present in Egypt’s oil industry. Eni’s finds are just the latest in several significant oil and gas discoveries over the last decade. As international investors shift away from Europe operations towards the African region, Egypt’s oil and gas industry is set to thrive.

Source: The North Africa Journal November 06, 2021 15:07 UTC