‘Supergiant’ gas field discovered in Mediterranean

A “supergiant” gas field holding the equivalent of 5.5bn barrels of oil has been discovered off the coast of Egypt, the largest ever find in the Mediterranean.

Italian oil group Eni, which announced the discovery on Sunday, said the find was enough to supply Egypt with gas for decades, in a major boost to the country’s struggling economy.

The deepwater Zohr well, almost 5,000 feet below the water’s surface and covering 100 square kilometres (40 square miles), may hold 30 trillion cubic feet of gas or more. Eni said it would fast-track the development of the discovery to begin production as soon as possible.

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