Chevron is planning to drill the first well to extract natural gas from the Narges 2 field in the Mediterranean during the fourth quarter (Q4) of this year, an unnamed governoment source told Asharq Business.

In early 2023, Chevron announced the discovery of the Narges field on an area of 1,800 square kilometers at the eastern Mediterranean in Egypt, with estimated extractable reserves from the field of about 2.5 trillion cubic feet.

In January, a government source revealed that Chevron is set to start production from the Narges natural gas field in the Egyptian Mediterranean waters during the first half (H1) of 2025.

The first phase of production will see quantities of up to 600 million cubic feet, the official said.

The company’s production from the field is expected to reach 1 billion cubic feet within two years of starting production, according to the source.

In September, it was reported that Chevron would inject initial investments worth $3 billion to develop the Narges field.

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