Rome, 13 May 2009 Today Enel announced to have been awarded in joint venture with Total an exploration block (named E. El Burullus) in the offshore Nile Delta in the frame of the 2008 EGAS International Bid Round. The joint venture is 90% Total that will also have the role of Operator and 10% Enel.
E. El Burullus offshore block covers an area of 2516 square kilometers and is situated approximately 70 kilometers from the coast, in water depths varying from 100 to 1600 meters.
The contract is for an initial exploration phase of four years which includes 3D seismic acquisition and the drilling of wells.
This initiative is part of Enels strategy to act as a vertically integrated energy company with direct access to strategic commodities.
Enel is also continuing the cooperation across the gas value chain and in particular in the LNG sector with the Egyptian company EGAS within the framework of a co-operation agreement signed in 2008.
Additionally, following the agreement signed yesterday by the Italian and the Egyptian governments, Enel will cooperate with the Egyptian Ministry of Energy and Electricity and with EEHC, the Egyptian national utility, in the power sector with a particular focus on energy efficiency and renewable energies.