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 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.