ExxonMobil Corporation has made a new natural gas discovery in Egypt after completing the drilling of an exploration well in the Mediterranean Sea, Bloomberg reported.

The company has completed the Nefertari-1 well in the North Marakia Block, located nearly five miles off Egypt’s northern coast.

“Gas bearing reservoirs were encountered, and we will continue to evaluate the results,” the company said. It added that the well was drilled with Valaris Limited’s DS9 drillship.

In 2019, ExxonMobil entered into the North Marakia block, where it sold a 40% stake to QatarEnergy in 2022.

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