31 August, 2015 – Eni has discovered the largest gas field in the Mediterranean, in offshore Egypt. The reservoir, with a potential up to 850 billion cubic meters of gas in an area of about 100 square kilometers, is the largest gas discovery ever made in Egypt, in the Mediterranean Sea, and probably worldwide. This exploration success will provide a fundamental contribution in meeting the Egyptian demand for natural gas, confirming that the country is still at the center of the Italian group’s international strategies. The alliance between Eni and Egypt has continues uninterrupted for more than 60 years, and Eni CEO Claudio De Scalzi commented: “It’s a very important day for our company and the people at Eni. This achievement confirms our expertise and capacity for technological innovation with immediate practical application, and shows above all the strong cooperation spirit between the different business components. This is the same strategy that led us to insist researching in mature countries that we have known for decades. The discovery in Egypt confirms that the country still has great potential. This historic discovery will be able to transform the energy scenario of an entire country, a country that has welcomed us for the past 60 years. The exploration activities confirm the focus of our growth strategy: in the last 7 years, we discovered 10 billion barrels of resources; and in the last six months we discovered 300 million, thus solidifying Eni’s position at the top in the industry. This finding takes on even greater value because it takes place in Egypt, a gateway country for our company, in which can make the most of important synergies and use the existing installations to quickly kick off production.”
