Egypt has announced the discovery of a new natural gas reservoir in the Mediterranean Sea, in the “Nasim-1X” exploration well. Preliminary estimates point to around 200 billion cubic meters of gas. The news was announced by the Egyptian Ministry of Petroleum and Mineral Resources.
Studies on the recoverable quantity and economic viability are ongoing, and there is no timeline yet for the start of production, according to the authorities. The discovery represents an important step for the country’s energy sector, which for years has aimed to increase domestic gas production and reduce dependence on imports, at a time when securing energy supplies remains an important issue for the Egyptian economy.
Sector experts are working to determine the amount of gas that can be extracted, the potential daily production capacity, and the real potential for exploitation. Until then, preliminary estimates remain pending final confirmation from reservoir studies.
