US major Chevron (45%op) and partner Eni (45%) on 15 January confirmed “a significant new gas discovery” following the drilling of the Nargis-1 exploration well on the Nargis Block, 60km north of the Sinai Peninsula in Egypt’s Mediterranean waters.

This confirms previous MEES reports that Chevron had discovered approximately 3.5tcf of gas with the Nargis-1 well which spudded in October (MEES, 2 December 2022). Neither firm, nor Egypt’s Petroleum Ministry have yet provided a gas reserves figure for the find with the ministry stating that “estimates of reserves are currently being evaluated.” Drilling only completed earlier this month. (CONTINUED - 917 WORDS)