Offshore oil and gas major, ENI, have announced that development on the giant 30 trillion ft3 Zohr gas field will restart in January.
The announcement was made after a meeting between ENI’s CEO Claudio Descalzi and the Egyptian President Abdel Fattah el-Sisi, in Cairo, Thursday (26th Nov).
ENI said that offshore drilling on the field will restart in January, as the company looks to fast track the gas field’s development.
Zohr Gas Field
The offshore Zohr gas field, was discovered back in August. The giant field has estimated reserves of around 30 trillion cubic feet of gas.
The field is expected to not only produce enough gas to secure Egypt’s energy needs, but make the country a hub for the regions natural gas production.
Egypt Gas Hub
President Abdel Fattah el-Sisi and Mr Descalzi, are believed to have also spoken at length about the possibility of making Egypt the region’s oil and gas hub.
Only this week, it was announced that natural gas from both BG Group’s Aphrodite gas field, offshore Cyprus, and the Leviathan offshore gas field in Israel’s waters, will be transported subsea to Egypt for processing.
Egypt will also further invest and build facilities to increase its current loading of LNG to tankers for global transportation.