Egypt and Chevron have announced promising results from the Nargis-2 natural gas well in the Mediterranean Sea, following drilling operations that began in May. The well, drilled in partnership with the Egyptian Natural Gas Holding Company (EGAS) and other international firms, confirmed the extension of gas-bearing reservoirs first discovered at Nargis-1 in 2022. Additionally, it identified a new gas-bearing reservoir with favorable characteristics, supporting efforts to assess the area's gas resources and potential development opportunities.
The Nargis-2 appraisal well reached a depth of over 5,000 meters, revealing gas-bearing reservoirs with up to 35 meters of net pay. These findings align with Egypt's strategy to accelerate the development of undeveloped gas discoveries and encourage further exploration activities. The results will support technical studies to determine the discovery's overall potential and assess development opportunities.
Egyptian Minister of Petroleum and Mineral Resources Karim Badawi emphasized the importance of accelerating the appraisal and development of undeveloped gas discoveries during the launch of drilling operations in May. The Nargis Offshore Concession is operated by Chevron in partnership with Italy's Eni, the UAE's Mubadala, and Egypt's Tharwa Petroleum Company.