Egypt Gas Find Sparks Panic in Israel about Israeli Reserves

Italian major Eni, on Aug. 30, announced the discovery of a supergiant gas field in the Mediterranean Sea off the coast of Egypt. The Zohr field is estimated to hold 30 Tcf of natural gas (5.5 Bbbls oil equivalent), though Eni believes more could be found. As it stands, the potential reserves represent the largest discovery in Egypt and the Mediterranean, topping Israel’s 16-Tcf Leviathan field.