business / news / / Africanews
Egypt and Italian energy giant ENI announced a "significant" natural gas discovery off Egypt's Mediterranean coast.
ENI and Egypt discovered about 2 trillion cubic feet of gas in the Temsah concession.
KEY POINTS
- The Denise W well also contains 130 million barrels of petroleum condensates, according to Egypt's petroleum ministry.
- Egypt's natural gas import bill has nearly tripled to $1.65 billion per month due to regional conflict.
- The Denise W well will undergo testing, with plans for more wells and an offshore production platform.
COMPANIES
Summarized by Newsio from Africanews. How we summarize →