Eni awarded two new exploration blocks in Egypt's Mediterranean

Eni has been awarded with two concession agreements in the Egyptian offshore Mediterranean as a result of the 2015 EGAS bid, the state-controlled company announced in a press release on Monday.

The Italian oil and gas company was awarded a 37.5 percent right in North El-Hammad along with BP (37.5 percent) and Total (25 percent). In the second block in North Ras El-Esh, Eni was awarded 50 percent with the other half held by BP, which will act as an operator.

The North El-Hammad and North Ras El-Esh blocks cover areas of 1,389 and 1,927 square kilometers respectively.

In August, Eni announced it discovered a 30 trillion cubic foot gas field in the Zohr prospect in Egypt's Mediterranean, making it the biggest gas discovery ever in the country.

During Egypt's economic development conference in March the company signed heads of agreement with the Egyptian government worth $5 billion over a period of 4-5 years.