Italy’s Eni gets Mediterranean exploration block

Milan, April 23 (IANS/AKI) Italy’s oil and gas giant Eni has been awarded a deepwater exploration block in Egypt’s eastern Mediterranean, the company said.

Eni said it will operated the 3,765 square km block, named Shorouk Offshore, though its fully owned affiliate IEOC, with 100 percent equity.

The block also known as Block 9, is located in water depths ranging from 1,400 to 1,800 metres, off the Egyptian coastal city of Alexandria.

Eni has been present in Egypt since 1954, and is currently the largest foreign energy company operating in the country, producing an average 234,000 barrels of oil equivalent per day.

–IANS/AKI

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