The
BBC has an
article about a new find:
Italian energy group Eni says it has found one of the world's largest natural gas fields off Egypt's coast. The company said the area was about five thousand beneath the surface and covered a hundred square kilometers.
It could hold as much as thirty trillion cubic feet of gas, or the equivalent of nearly six billion barrels of oil, Eni said.
The company says that the Zohr field "could become one of the world's largest natural-gas finds" and help meet Egypt's gas needs for decades.
"This historic discovery will be able to transform the energy scenario of Egypt," said Claudio Descalzi, chief executive of Eni, which has full concession rights to the area, is the biggest foreign energy firm in Africa.
In June of 2015, it signed an energy exploration deal with Egypt's oil ministry worth two billion dollars, allowing the company to explore in Sinai, the Gulf of Suez, the Mediterranean, and areas in the Nile Delta.
Eni's find follows other significant gas discoveries in the Mediterranean in recent years, including by Egypt's neighbor, Israel.
Rico says he predicts naval actions over this...
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