Eni, BP to Reach Decision on Offshore Egypt Gas Discovery in Coming Months

Eni is working with BP and Egyptian Petroleum Corporation (EGPC) to reach a final investment decision in the next few months regarding Egypt's recent-discovered gas fieldDenise West, the Italian energy group said on Tuesday.

• First gas from the offshore gas discovery, which was announced last April, could come in less than two years, Eni said in a statement.

• Eni's Chief Executive Claudio Descalzi met Egypt's President Abdel Fattah el-Sisi in Cairo on Tuesday.

• The country's Prime Minister Mostafa Madbouly and the Minister of Petroleum and Mineral Resources Karim Badawi also attended the meeting.

• Descalzi and El-Sisi also discussed the status of Eni's Cronos gas development project in Cyprus' offshore.

• Cronos will play a crucial role in developing Egypt's status as a Mediterranean energy hub, Eni said.

• The gas extracted in the Cronos development will be liquefied in Egypt's Damietta LNG plant.

(Reuters)