| Eni Announces Supergiant Gas Discovery Off Egyptian Coast | |
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The company said that the discovery may hold 30 trillion cubic feet of natural gas in place (5.5 billion barrels of oil equivalent) over an area of 100 square kilometers. Not only is that enough to rank it as the largest find ever made in the Mediterranean Sea, but that ranks as one of the top in the world. Eni says that, when fully developed, the Zohr field could provide enough gas to satisfy Egypt’s natural gas demand for decades. The Eastern Mediterranean has emerged as one of the most important gas regions across the globe in recent years. Egypt’s neighbor Israel has ambitious plans to develop its huge gas fields. In 2009, Noble Energy discovered the Tamar field in Israeli waters, a major discovery that may hold 10 trillion cubic feet of natural gas. They topped that find with an even larger discovery in 2010 – the Leviathan. Related: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy? Although Noble Energy and its partners have run into some trouble with Israeli regulators, which has slowed development, the Israeli government has recently cleared up their regulatory policy, hopefully easing the way for the large gas fields to be move towards production. Eni’s discovery further proves the potential for the Eastern Mediterranean. For Egypt, Eni’s huge discovery could be a godsend. The country has suffered from energy shortages and blackouts, and has resorted to importing LNG to meet the shortfall. |
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Noble Energy
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CODE : NBL |
ISIN : US6550441058 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Noble Energy is a producing company based in United states of america. Noble Energy is listed in United States of America. Its market capitalisation is US$ 4.9 billions as of today (€ 4.1 billions). Its stock quote reached its highest recent level on May 09, 2008 at US$ 97.39, and its lowest recent point on August 31, 2020 at US$ 10.00. Noble Energy has 492 191 992 shares outstanding. |