Egyptian Med: Ha’py Days For Eni As Virgin Acreage Attracts Major Interest

14 Jun 2019 Issue: 62 / 24 By: Peter Stevenson

Fresh from announcing a major find at Nour southeast of its flagship 21.5tcf 2015 Zohr deepwater find, Eni is taking the Northeast Ha’py block smack between the two.

Eni is not resting on its laurels when it comes to Egypt. The Italian firm’s giant Zohr field is currently producing 2.3bn cfd, or 34% of the country’s overall gas output. In March the firm announced the discovery of gas at the Nour prospect offshore North Sinai, though volumes have yet to be made public (MEES, 15 March). Now MEES learns that the firm has agreed to take an 70% stake and operatorship of the Northeast Ha’py Block, situated to the northwest of Nour, and to the southeast of Zohr, hitherto operated by compatriot Edison, which will retain 30%.

Edison, a subsidiary of French utility EdF, had already said it planned to drill before the end of the year. MEES understands that Eni, in exchange for the stake in the field, will foot the bill for this planned exploration. Drilling is set to follow: Edison plans to spud a well within the next two months in its North Thekah Block, directly to the east. (CONTINUED - 778 WORDS)