Thursday , July 29 2021

The Italian company Eni completes the drilling of the first exploration wells in January

In Italy the drilling of the first wells of the exploratory field Noor ends in January The newspaper, citing the seventh day to publish it in Italy, ends the drilling of the first wells in the field of exploration Noor in January, Italian Ini finished drilling the first wells from the exploration field Noor in January we publish Our visitors New News Today through our Al-Hawar newspaper and begin with the main innovations, the Italian INE ends the drilling of the first wells of the exploration field Noor in January.

The Italian oil company ENI and the wealth of Egypt are likely to finish drilling their first exploration wells in the Noor camp in northern Sinai at the end of next January, according to an official source in the oil sector, adding that the Reservations and reservations will be evaluated based on drilling results.

The source said in declarations to the newspaper "dialogo", that the Italian company began the operations of drilling in the last week of last September.

Mubadala Petroleum, a subsidiary of the Mubadala Investment Company, the sovereign wealth fund of Abu Dhabi, announced that it has acquired 20% of the Nile North concession in northern Sinai in Egypt from Eni in Italy, making it 65% in Eni. Oil wealth has a 15% stake.

Mubadala said the agreement was subject to conditions that included the approval of the Egyptian government.

In March, the Cabinet approved an agreement for the exploration and exploration of oil and gas in the North Sinai area of ​​Noor in the Mediterranean, before approval by the House of Representatives. According to the agreement, the Italian wealth Eni and Egypt spend about $ 105 million in two phases for 6 years, including taking a well in the first and second stages.

Italy discovered the field of the Egyptian gas giant in the Mediterranean in August 2015, which includes reserves of 30 trillion cubic feet of gas, while the volume of daily production of the field to about 2 million cubic feet and is likely to reach Daily gas production About 3 million cubic feet before the end of 2019.

According to the source, the promising results of the Egyptian gas fields in the Mediterranean have strongly contributed to increasing the demand of investors to enter as Egypt's partner in these mega projects, hoping that the concession of light would be promised.

He affirmed that the entry of new partners to invest in the oil sector reflects the investment opportunities distinguished by the sector and will serve the Egyptian economy significantly during the next phase benefiting from the vast experience of the new partners, adding that this supports the tendency of the government to Increase investments in the oil sector to help increase production and reserves of oil wealth.

Mubadala signed the definitive agreement for the purchase of the company of UAE 10% of the participation of Eni Italian in the concession of Sunrise Sea, that is located in the field of return in the Mediterranean, the value of the business in value of 934 million dollars, In addition to a subscription grant worth 94 million dollars.

Mubadala, a subsidiary of the UAE of the Mubadala Investment Company, owned by the UAE government in Abu Dhabi, is one of the leading companies in the exploration, development and production of oil and gas. Most of the company's investment activities are concentrated in the Middle East and Southeast Asia.

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Source: Day seven

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