Skip to content Skip to Search
Skip navigation

Egypt discovers five new gas fields

By Pramod Kumar
REUTERS/Amr Abdallah Dalsh
The new fields have a total reserve of about 317 billion cubic feet of gas.

State-owned Egyptian Natural Gas Holding Company (EGAS) has discovered five new gas fields in the Mediterranean sea and the Nile Delta, Egypt Today newspaper reported.

The fields have a total reserve of about 317 billion cubic feet of gas, in addition to existing reserves of 471 billion cubic feet after drilling the Bashrush 3 well in the Mediterranean.

EGAS executive director Magdy Galal said gas exports increased 44 percent annually, along with 84 shipments of liquefied natural gas (LNG) from the gas liquefaction plants in Idku and Damietta.

The newspaper said two new international bids were launched to search for gas and oil.

Three areas were assigned to Italy’s Eni and UK’s BP with a total investment of $278 million.

Latest articles

Saudi Arabia Ronnie O'Sullivan snooker

Ronnie O’Sullivan to be Saudi snooker ambassador

Saudi Arabia has signed a deal with the world’s top snooker player, Ronnie O’Sullivan, for him to act as an “ambassador” for the sport in Saudi Arabia.  It was announced alongside news that Saudi Arabia has become an official sponsor of the World Snooker Championship that begins this weekend in Sheffield, UK. Under the three-year […]

UAE Costa Rica Cepa

Costa Rica added to UAE economic partners

The UAE has signed a comprehensive economic partnership agreement with Costa Rica, the latest in a string of trade deals around the world over the past two years. It is the first time the South American country has signed an agreement with a Middle Eastern country. The agreement will improve trade flows between the two […]

A man wades through a flooded street in Dubai. Some areas of the UAE received more than a year's worth of rain in one day

UAE president orders review after flooding

The UAE’s president, Sheikh Mohamed bin Zayed Al Nahyan, has ordered an urgent review of the country’s infrastructure after historic levels of rainfall brought the Gulf state to a standstill, with some areas seeing more than a year’s worth of rain in one day. The president has contacted authorities “to quickly work on studying the […]

Visitor numbers to Lebanon for the first 10 months of 2023 were up 21% on 2022 but there is currently 'no significant traffic' from the West

Beirut airport arrivals drop as Westerners stay away

The daily arrival rate at Lebanon’s only functioning international airport is down by 4 percent year on year in the first quarter of this year, according to Marwan Haber, the head of Middle East Airline’s (MEA) commercial division. Speaking at the Horeca hospitality conference in Beirut on Tuesday Haber said 95 percent of arrivals were […]