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"Chevron Strikes Gold: Major Gas Discovery in the East Mediterranean"

 

                        Photo Credit: chevron

Chevron, the American multinational energy corporation, announced that it has made a "significant" discovery of natural gas in the East Mediterranean, specifically in Egypt's Nargis Offshore area. 

The company drilled the Nargis-1 exploration well, which yielded 61 meters of Miocene and Oligocene gas-bearing sandstones, according to Clay Neff, president of Chevron International Exploration and Production. 

This exciting discovery comes on the heels of Chevron's entry into the Egyptian upstream sector in 2020 and the company is looking forward to collaborating with the Egyptian government, Egyptian Natural Gas Holding, and its partners to further develop Egypt's energy sector. 

The East Mediterranean is known to have abundant energy resources and this discovery is likely to spur strategic collaboration in the region. Eni, Chevron's partner in the venture, also confirmed the discovery and stated that it plans to develop the Nargis find through its existing nearby facilities. 

Both companies have other opportunities for exploration in Egypt's offshore and this discovery serves as a promising start for Chevron in the region.

Source: Energy Voice


#Chevron #East Mediterranean #Egypt #Oil and Gas #Africa



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