US Chevron discovers 3.5tcf gas well in Egypt – Egypt Today

US Chevron discovers 3.5tcf gas well in Egypt – Egypt Today

CAIRO - 4 December 2022: US Chevron Corporation announced the discovery of a new gas well, called "Narges-1X", in the offshore Narges area near Al-Arish in Egypt, according to the MEES newsletter.

The Middle East Economic Survey (MEES) is a weekly newsletter published by Middle East Petroleum and Economic Publications Ltd.

The Narges offshore block (in which Chevron operates at 45 percent, Eni 45 percent, and state-run company Tharwa at 10 percent) discovered 3.5 trillion cubic feet of gas, a source told MEES.

The well is being drilled by the Stena Forth drillship.

“Narges-1X" has encountered gas at its primary target depth of 3,980ms. The discovery will be a huge boost to Egypt which has seen its output fall from a peak of 7.2 billion cfd last September to 6.5 billion cfd for the third qyarter (Q3),” the newsletter added.

In June, the Egyptian Natural Gas Holding Company "EGAS" and Chevron Corporation signed a memorandum of understanding (MoU) to cooperate in the activities of transporting, importing and liquefying the export of East Mediterranean gas.

Chevron, which is an American multinational energy corporation, drilled its first exploration well in its concession area in the Mediterranean Sea in September.

Moreover, Chevron affirmed its readiness to play an active role