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The Business of Death in Egypt

Egypt Discovers Supergiant Natural Gas Field

Will all our energy woes be solved? Italian energy group Eni S.p.A who describe the gas field as one of the largest ever found in the Mediterranean Sea.

A supergiant natural gas field was discovered earlier today by Italian energy group Eni S.p.A who describe the gas field as one of the largest ever found in the Mediterranean Sea; located right off Egypt’s coastline, deep in the waters at a depth of 1,450 metres, covering an area of 100 square kilometers. The discovery, now-dubbed Zohr, will potentially hold 30 trillion cubic feet of gas, according to a statement released by Eni, consequently fulfilling Egypt’s gas demand and necessities "for the coming decades."

Eni CEO Claudio Descalzi met with Egyptian President Abdel-Fattah El-Sissi a day before the announcement was made and believes Egypt to nevertheless hold great potential for Energy manufacture, “important synergies with the existing infrastructures can be exploited, allowing us a fast production startup.”

The discovery is a relentlessly promising spark in Egypt’s economic renovation. Difficulties we faced with electricity and fuel over the past three years will soon become a thing of the past! The Italian company Eni will also most certainly benefit from the discovery as they have established themselves as an asset to Egypt’s progress and resource maintenance, it is the main hydrocarbon producer in Egypt has been in the country since 1954 through the International Egyptian Oil Company (IEOC), producing a daily equity production of 200,000 barrels of oil equivalent.

Photo Credit: www.upi.com


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