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Arab Finance – Chevron will begin drilling a second well in the Narges field next month


Chevron begins drilling a second well in the Narges field next month

Arab FinanceThe American energy giant Chevron intends to invest $150 million to drill a second exploratory well in the Narges natural gas field in the Mediterranean next month, according to what was reported by the East Economy website.

This comes after the company completed drilling the first exploratory well in the field, closing it until the completion of the development plan, and establishing the floating offshore production platform and pipelines to deliver the natural gas produced to the onshore processing plant. It is also expected that gas production will begin in late 2026.

The Ministry of Petroleum is working to implement a program to improve investment attraction policies and provide attractive investment opportunities in a way that contributes to fully exploiting the sector’s potential and developing and implementing applicable solutions to confront the challenges of the gap between production and consumption. Work is mainly done on mechanisms to intensify and stimulate exploration for oil and gas and encourage… Partners to pump more investments to develop discoveries and carry out more activities to ensure the sustainability of supplies.

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