en.Wedoany.com Reported - Chevron has commenced drilling operations for a new well at the Nargis natural gas field in the Mediterranean Sea, which was discovered in 2022, as part of its ongoing development program.

The project is led by Chevron as the primary operator, in partnership with Eni, Mubadala Energy, and Tharwa Petroleum Company. The Nargis field is located in the prolific East Nile Delta Basin in the Mediterranean, approximately 50 kilometers offshore.

Egypt's Minister of Petroleum and Mineral Resources, Engineer Karim Badawi, reviewed the commencement of drilling activities aboard the drillship Stena Forth, which recently arrived in Egypt and began operations at the field.

Badawi noted that drilling this new well is part of the Ministry of Petroleum and Mineral Resources' strategy to encourage international energy companies to accelerate the development of undeveloped natural gas discoveries, including the Nargis field, and integrate them into the development and production portfolio.

The Egyptian government is seeking to reverse years of declining production and reduce energy imports through investment incentives and encouragement, a process further driven by the current situation in the Middle East. These measures have shown results, with active exploration activities and some promising discoveries.

Recently, Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Eni, made a discovery in the Western Desert, its most significant achievement in the past 15 years. The ministry announced that the discovery was made through the South Bostan-1X exploration well, drilled using the EDC-9 rig operated by the Egyptian Drilling Company (EDC). Preliminary estimates indicate reserves of approximately 330 billion cubic feet of natural gas and 10 million barrels of condensate and crude oil, with total estimated recoverable reserves reaching 70 million barrels of oil equivalent.

The discovery is further valued for its proximity to existing facilities and infrastructure, enabling rapid development and swift connection to the production network. Drilling encountered multiple sandstone and limestone reservoirs with a net pay thickness of 400 feet, highlighting its economic potential and production significance.

This discovery reflects the success of the Ministry of Petroleum and Mineral Resources' incentive measures, which encourage partners to intensify exploration near existing fields, helping to discover new reserves in areas close to infrastructure without requiring significant additional investment, thereby reducing development costs, accelerating first production timelines, and improving operational efficiency.

In early May, Eni made a new natural gas discovery in the Nile Delta region, with estimated production of approximately 50 million cubic feet per day. This followed Eni's discovery of natural gas and condensate in the Temsah block in the Eastern Mediterranean in April, with preliminary estimates of about 2 trillion cubic feet of natural gas and 130 million barrels of associated condensate.

This year, Dragon Oil announced a new oil discovery after successfully drilling the South El Wasl 'B.B2' exploration well in the Gulf of Suez, with preliminary results showing production exceeding 2,000 barrels per day. U.S.-based Apache Corporation, in partnership with the Egyptian General Petroleum Corporation, made a natural gas discovery in the Western Desert after drilling the SKAL-1X exploration well in the South Kalabsha area, with preliminary test results indicating natural gas production of approximately 26 million cubic feet per day and condensate of about 2,700 barrels per day.

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