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Sources at Egypt’s oil ministry are not only confident about deepwater opportunities. Ministry sources tell local publication Egypt Oil & Gas that seismic surveys near Mahala city in the Nile Delta indicate potential gas reserves of at least 15tcf.
None of the rumors have mentioned a specific company. But French major Total holds the North El Mahala block, where Mahala City lies – the company’s only operated Egyptian block. Total was awarded the block in 2015 following a 2013/14 EGAS bid round (MEES, 3 October 2014).
Total’s 2016-18 development plan indicated that the block would be the site of its only MENA “high impact exploration” well “targeting >500mn boe” planned for the MENA region over 2016-18 (MEES, 6 November 2015). Like Eni did with Zohr, Total is targeting new, deeper formations, in onshore carbonate. (CONTINUED - 147 WORDS)