The FINANCIAL -- Eni announces the start-up of the third production unit (T-2) of the Zohr project, increasing the installed capacity to 1.2 bcfd. Zohr is now producing 1.1 bcfd in ramp-up, equivalent to approximately 200 thousand boed, of which 75,000 boed net to Eni at current working interest.
This outstanding result has been achieved only a few months after the field’s start-up in December 2017.
The third unit, following just one week after the second unit’s successful power-up, confirms the programme pursued by Eni, its co-venturers and Egyptian Natural Gas Holding Company (EGAS) to pursue a production level of 2 bcfd by end 2018, followed by a plateau of 2.7 bcfd in 2019, according to Eni.
The latest achievement reinforces the exceptional development path of Zohr, 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 60% stake, Rosneft 30% and BP 10% of the Contractor’s Share (where Eni, Roseneft and BP are collectivity the Contractor).
The project is 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 Contractor (Eni and its partners) and the state company Egyptian Natural Gas holding Company (EGAS).
Eni has been present in Egypt since 1954, where it operates through its subsidiary IEOC. The company is the country's leading producer with equity of more than 260,000 barrels of oil equivalent per day.