Egypt through her Petroleum Minister, Tariq al-Mulla, has disclosed the country discovery of a new gas field in the Mediterranean Sea. The discovery of this colossal gas field is still undergoing evaluation stages to estimate the volume. The name of the new gas field “Narges” is sequel to the discovery of Zohr gas field by Eni

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“Our sovereignty over our wealth is inseparable, and we have discovered a large discovery whose quantity has not been determined, but will be announced. Its production volume is good, and the state’s rights and share are guaranteed along with the foreign partner,” Petroleum Minister, Tariq al-Mulla.

Nargis is one of four offshore exploration blocks in which Chevron holds operating interests in Egypt along with Tharwa Petroleum Co, according to Chevron’s website. The Middle East Economic Survey reported this month that the size of the new well was 3.5 trillion cubic feet of gas.

 Petroleum Minister Mulla’s made this disclosure during a presentation with the House of Representatives Energy Committee. Details about Narges will be disclosed once determined, he added. Mulla also disclosed the ministry’s plan for the fiscal year 20230/2022 includes 118 exploratory wells, part of which are for rapid production, including Narges field.

Chevron had announced the discovery of a new gas field in the Mediterranean in front of Arish city. The giant company said that it had discovered the offshore well “Narges 1X”, located in the offshore Narges area, with reserves of 3.5 trillion cubic feet of gas.

The well was drilled by the Stena Forth ship. The company added that this discovery will be a major boost to the production of natural gas in Egypt, in addition to other discoveries in the field of oil and gas.

The find could provide a boost to Egypt’s efforts to position itself as an energy hub in the eastern Mediterranean following the 2015 announcement of the discovery by Eni of the giant Zohr gas field.