Italy’s oil and gas company Eni announced today it has been awarded a deepwater exploration block (Block 9) in the Eastern Mediterranean of Egypt within the EGAS 2012 International bid round in Cairo (Egypt).
Through its fully owned affiliate, IEOC, Eni will act as Operator of Block 9 with 100% equity. Block 9, also named Shorouk Offshore, which covers an area of 3,765 square kilometers, is located in water depths ranging from 1,400 to 1,800 meters.
This new acreage acquisition further consolidates Eni’s position in Egypt, where it has been present since 1954, and is currently the largest foreign energy player in the Country, with an average oil and natural gas equity production of approximately 234,000 barrels of oil equivalent per day.