Italian oil and gas group Eni is denying news reports suggesting it has made a major new offshore natural gas discovery in Egypt.
The rumor caused a 5% – 6% plunge in shares of the Israeli gas partnerships.
“There are prospects and new [geological] structures in Egypt but we still haven’t discovered anything,” Eni Chief Executive Claudio Descalzi told reporters on Monday.
Descalzi was referring to recent reports which quoted a former Egyptian petroleum minister as saying Eni was about to announce a massive gas discovery off the Egyptian coast.
Eni last week announced its plan to begin drilling an exploratory well at its Noor field in Egypt’s North Sinai in two months.