Minister of Petroleum and Mineral Resources Karim Badawi has recently witnessed the launch of drilling operations for a new well at the Nargis natural gas (NG) field in the Mediterranean Sea, as part of efforts to develop the discovered oilfield and accelerate its entry into production.
The Nargis field is being developed by Chevron, the lead operator, in partnership with Italy’s Eni, the UAE’s Mubadala Energy, and Egypt’s Tharwa Petroleum.
The commencement of drilling at the new well forms part of the Ministry of Petroleum and Mineral Resources’ strategy to encourage international energy companies to expedite the development of undeveloped gas discoveries, including the Nargis field, and bring them into the production phase.
The ministry has said accelerating the development of such projects is expected to contribute to increasing domestic natural gas output and reducing import costs, in line with one of its key strategic objectives of boosting Egypt’s energy security and increasing the utilisation of its natural resources.
