Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed the launch of drilling operations for a new well at the Mediterranean Nargis natural gas field, to fast-track production from the field, which US energy field major Chevron Corporation operates in partnership with Italy’s Eni, the UAE’s Mubadala Energy, and Egypt’s Tharwa Petroleum Company, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Badawi inspected the onset of operations from aboard the Stena Forth drillship, which arrived in Egyptian waters earlier this week to commence the offshore campaign. He affirmed that the new well forms a core part of the ministry’s strategy to motivate international oil companies (IOCs) to accelerate the development of unexploited gas discoveries like the Nargis field. By bringing these assets into the production map, the state aims to boost domestic natural gas output and reduce imports, which remains a primary strategic objective for the ministry, according to the MoPMR statement.
The minister hailed the field operator’s commitment to collaborate with Egypt’s petroleum sector. He noted that this cooperative framework has successfully overcome challenges and paved the way for drilling operations. The effort, he stressed, is a joint undertaking between the ministry, the Egyptian Natural Gas Holding Company (EGAS), Chevron, and Eni, aimed at bringing the Nargis field onto the development map and accelerating its gas production plans.
Discovered in December 2022, Nargis field holds an estimated natural gas reserve of approximately 3.5 trillion cubic feet (tcf). Commercial operations at the deepwater asset are slated to begin production in 2025 under a partnership among Chevron, the main operator with a 45% interest; Eni’s subsidiary, IEOC, with 45%; and Tharwa Petroleum Company, which holds the remaining 10% stake.
