ENI Makes Major Mediterranean Gas Discovery Off Egypt

Eni has announced the discovery of a potentially major natural-gas fields off the Egyptian coast,

"According to the well and geophysical data available, the field could hold a potential of 30 trillion cubic feet of lean gas in place," the Italian company commented in a statement.

The discovery at the Zohr gas field is located at a depth of 1,450 metres (4,757 ft) off Egypt's Mediterranean coastline in an area reaching approximately 100 square kilometers.

"Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world's largest natural-gas finds," it said, adding that it had full concession rights to the area.

The discovery holds the opportunity to re-invigorate the possibilities of natural gas playing a major role of in the East Med regions, with implications on energy supply and security in both the Middle East and Europe.