Italian energy company Eni said Monday it made what it considers to be an important discovery of natural gas in the Egyptian Nile Delta. Eni said it made a discovery in the Nooros exploration prospect in the Abu Madi West license area, about 75 miles northeast of Alexandria. “Preliminary estimates of the discovery account for a potential of 530 billion cubic feet of gas in place with upside, plus associated condensates,” the company said in a statement. Eni in January signed two new agreements in the deep waters of the Mediterranean Sea following an auction held by the Egyptian government in 2013. In March, the company said it signed a framework agreement to develop Egyptian oil and gas reserves that calls for as […]