USD 92.2628

-0.33

EUR 99.7057

-0.56

Brent 86.99

+0.1

Natural gas 1.752

-0

705

North El Hammad block

North El Hammad located in the shallow waters in Egyptian Mediterranean Sea

North El Hammad block

In December 2016 Egyptian Oil Minister Tarek El Molla signed the offshore oil & gas exploration and production deal with France’s Total, Britain’s BP, and Italian oil major ENI’s Egyptian subsidiary IEOC.

Eni is the operator of the North El Hammad block with an equity of 37.5% in participation with BP, who has a 37.5% stake, and with Total, who has 25% a stake.

The block, which covers an area of 1,927 km2, is located to the west of the Abu Madi West and Baltim-Baltim South development areas, where Eni recently made the significant discoveries of Nooros, in production since August 2015 and Baltim South West.

The deal with a consortium of all 3 companies is worth $80 million.

In July 2020 Eni made a gas discovery with the first exploration well in the North El Hammad license, on the prospect called Bashrush.