26/09/2018 – News / Oil & Gas / Eni / Egypt / Zohr Field / Mediterranean / EGAS / Petrobel / Italy
Eni hits 2 bcfd production target at Zohr
Eni’s Zohr field is now producing two billion cubic feet per day (bcfd) – approximately 365,000 boed (barrels of oil equivalent per day). This outstanding result has been achieved only a few months after the first gas in December 2017 and one year before the schedule of the Plan of Development (PoD).
According to the Italian company, this level of production was achieved thanks to the start-up of the fifth production unit (T4), backed by the eight gas producers and a new 30” x 218 km sealine, commissioned in August, and confirms the programme pursued by Eni, its partner, Egyptian Natural Gas Holding Company (EGAS), and their joint venture company Petrobel aimed to reach a plateau in excess of 2.7 bcfd in 2019.
The latest achievement reinforces the exceptional development path of the Zohr project, one of Eni’s seven record-breaking projects, which is playing a fundamental role in supporting Egypt’s independence from LNG imports.
The Zohr field, the largest gas discovery ever made in Egypt and in the Mediterranean Sea with more than 30 tcf of gas in place, is located within the offshore Shorouk Block (some 190 km north of Port Said). In the Shorouk Block, Eni holds a 50 per cent stake, Rosneft 30 per cent, BP 10 per cent and Mubadala Petroleum 10 per cent of the Contractor’s Share (where Eni, Rosneft, BP and Mubadala Petroleum are collectively the Contractor).
The project is being executed by Petrobel, the Operating Company jointly held by Eni and the state corporation Egyptian General Petroleum Corporation (EGPC), on behalf of Petroshorouk, jointly held by the Contractor (Eni and its partners) and EGAS.
Eni has been present in Egypt since 1954, where it operates through its subsidiary IEOC and is the leading producer, with an equity of 340,000 boed.