Huge natural gas field found off the coast of Egypt
Italian energy group Eni says it has found one of the world's largest natural gas fields off Egypt's coast.The Egyptian economy certainly needs such a boost. This coincides with the huge natural gas field found off the coast of Israel. It could further shake up the dominance of the Gulf states and Russia in the natural gas business.
The company said the area was 1,450m (4,757 feet) beneath the surface and covered 100 sq km (39 sq miles).
It could hold as much as 30 trillion cubic feet of gas, or 5.5 billion barrels of oil equivalent, Eni said.
The company says that the Zohr field "could become one of the world's largest natural-gas finds" and help meet Egypt's gas needs for decades.