The “MEES” website, which means oil and economic forecasts in the Middle East, has revealed that Chevron, the American gas and oil giant, has announced the discovery of a new gas well called “Narges-1 X”, in the offshore area of Narges near Al-Arish.
The Nargis well (in which Chevron operates 45%, Eni 45% and state-owned Tharwa 10%) has uncovered 3.5 trillion cubic feet of gas, a source told MEES.
The well is being drilled by the Stena Forth drilling rig.
According to the site, this discovery will be a big boost for Egypt.
For its part, a closely related source said that Chevron has been working in the Nargis maritime concession area in the Mediterranean for some time, and much of the investment has been pumped in, which it declined to specify, explaining that the first results are promising.
And the source continued, in exclusive statements, that research operations are being completed to determine the extent of the reservations in this disclosure, which requires a lot of measurement and research, which is currently underway in order for the details of the disclosure and the the size of the reservations will be announced after the completion of these studies.
As for the expected timing of the announcement of reserve details, it is currently under study and will be announced upon its completion, indicating that rising international oil prices have prompted exploration and exploration companies to ramp up production, research and exploration to increase production volume and meet local market needs.
Another official source in the oil industry said the sensing layers and some of its details are currently being measured in preparation for the announcement.
