Italian energy group Edison has recently discovered a new natural gas deposit, the Rashid North, in the Rosetta concession, located in the waters off the Nile Delta. The exploratory well, known as Rosetta-11, which may be reused in the subsequent production phase, has revealed a large structure going through to the plioscene layer.
The Rosetta-11 exploratory well has completed its drilling, unveiling the presence of gas reserves at a depth of over 1,500 meters. Activities in the Rosetta concession are conducted by a joint venture in which Edison has a 20 percent interest, with the BG Group and Shell Egypt NV holding 40 percent each.
The joint venture already presented an application to Egyptian General Petroleum Corporation (EGPC), the state oil company, to start developing this new field, with approval expected to come through by the end of this year.
This recent discovery in the Rosetta-11 well marks the end of the exploratory phase in the Rosetta concession, successfully started in April 1997, and which, in January 2001, began producing the first natural gas for sale on the Egyptian market.
The gas produced, currently amounting to 2.7 billion cubic meters per annum, is transported to the Egyptian network via a 66-kilometer underwater pipeline. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
