Cairo – Mubasher: Italy’s Eni and Egypt-based Tharwa company will drill the first exploratory well in North Sinai's Noor offshore concession next week, an official at Egyptian Natural Gas Holding Company (EGAS) told Reuters.
In June, a source at the Egyptian petroleum ministry said that Eni and Tharwa Petroleum would start drilling activities at Noor field in the concession of Theqa in the Mediterranean water before the end of August after obtaining the required approvals from the ministry.
In May, the Egyptian government had approved a $105 million agreement between Eni and Tharwa for oil and gas exploration in the Mediterranean water.
It is worth noting that the Italian oil and gas giant plans to invest $3 billion in the North African nation over the coming period, in line with the increase in production from the fields of Zohr and Nooros field offshore Egypt.
Capitalising on the recent gas discoveries, the Arab world's most populous country is on track to become a natural gas self-sufficient by the last quarter of 2018.