ENI To Fasttrack Giant Zohr Gas Field Offshore Egypt

Published at 07:12PM - 19/10/15

Offshore oil and gas major, ENI, has announced that it will look to fast track its recent giant Zohr offshore gas field, in a bid to get it on stream as soon as possible.

The gas field, located offshore Egypt, through early exploratory drilling, is expected to hold reserves of around 30 trillion cubic feet of natural gas.

The announcement was made whilst ENI CEO, Claudio Descalzi, met with the Egyptian President Abdel Fattah Al-Sisi, in Cairo Sunday, in a meeting designed to discuss the oil and gas company’s activities in the Arab nation.

ENI said the the two discussed at some length the possibility of Egypt becoming a hub for the transit of natural gas within the region, and in particular the Eastern Mediterranean.

Previously, ENI has stated that it would take an investment of around US$10 billion to build the infrastructure necessary to exploit Zohr to its full potential.

ENI, who has been the main oil and gas production company in Egypt since 1954, currently has a production of around 190,000 barrels of oil equivalent a day in the country.