- Global Markets: LNG Buyers in Asia Look to Resell Supply
- Global Oil & Gas: EU Rules on Methane Curbs May Boost LNG Industry - Exxon
- Global Oil & Gas: Venture Global Accused of Reneging on LNG Contracts for Europe
- Global Oil & Gas: Oil Unchanged as Market Struggles for Direction
- Energy Transition: Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’
Eni SpA announced Saturday that the Zohr field offshore Egypt is now producing 2 billion cubic feet per day (Bcf/d), equivalent to approximately 365,000 barrels of oil equivalent per day.
In a statement posted on social media site Twitter, the Italian oil and gas company labeled the development as an “outstanding result”.
The production start-up of Zohr was announced in December 2017, after being discovered in August 2015. The project is described by Eni as one of its seven “record-breaking” projects, which the company says is “playing a fundamental role in supporting Egypt’s independence from LNG imports”.
Earlier this year, Eni announced on Twitter that production at Zohr would be increased to 2 Bcf/d by September.
The Zohr field, which is the largest gas discovery ever made in Egypt and the Mediterranean Sea, is located within the offshore Shorouk Block. In the block, Eni holds a 50 percent stake, Rosneft holds a 30 percent stake, BP a 10 percent stake and Mubadala Petroleum a 10 percent stake of the contractor’s share.
Eni has been present in Egypt since 1954, where it operates through its subsidiary IEOC. The company is the country’s leading producer with an equity of around 340,000 barrels of oil equivalent per day.