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Natural gas found in BP, ENI area off Egypt

Tue Mar 18, 2008 5:07am EDT

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CAIRO, March 18 (Reuters) - A natural gas find in an area controlled by BP (BP.L) and a subsidiary of Italian firm ENI (ENI.MI) could hold one trillion square feet of reserves, the Egyptian state news agency MENA said.

BP and ENI subsidiary IEOC had bought rights to the eastern Mediterranean area where the gas was found 22,000 feet below sea level, Mahmoud Latif, chairman of state-owned Egyptian Natural Gas Holding Company, was quoted by MENA on Monday.

BP and ENI officials could not immediately be reached for comment. The state news agency did not give further details. (Writing by Will Rasmussen)



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