PM: ExxonMobil’s new gas find in Egypt signals bright future for West Mediterranean exploration

Egyptian Prime Minister Moustafa Madbouly has hailed ExxonMobil’s latest natural gas discovery off the coast of Egypt as a significant step towards unlocking further energy resources in the Western Mediterranean. The discovery was made after the company successfully drilled an exploratory well in the North Moraca area, a largely unexplored region.

“This is crucial, as the area they (ExxonMobil) are working in— the Western Mediterranean— is a completely new, unexplored region. All previous drilling efforts were concentrated in the Delta, Sinai, and what we refer to as the Eastern Mediterranean.” Prime Minister Madbouly told a press conference.

ExxonMobil Corp. announced the new natural gas discovery off Egypt’s Mediterranean coast, after completing the exploratory Nefertari-1 well in the North Marakia Block. The Nefertari-1 well, located 50 kilometres from the coastline, is being drilled to a depth of 1,700 metres below the surface using the Valaris DS-9 drillship.

“Gas bearing reservoirs were encountered, and we will continue to evaluate the results,” Exxon statement read.

This discovery aligns with Egypt’s broader strategy to increase its natural gas output and strengthen its position in the global energy market. The government has emphasised the crucial role of global companies in boosting production.

Attribution: Amwal Al Ghad English