The FINANCIAL -- Eni announces the start-up of the second production unit (T-1) of the Zohr project, which will increase installed capacity by 400 MMScfd, just 4 months after the field’s start-up.
Zohr now has a capacity of 800 MMscfd, equivalent to 150,000 boe per day (46,000 boed net to Eni).
The production ramp-up is planned to continue, with the same exceptional performance, in order to reach 1.2 bcfd in May 2018, 2 bcfd by end 2018 and the production plateau (2.7 bcfd) in 2019, according to Eni.
The Zohr field, the largest gas discovery ever made in Egypt and in the Mediterranean Sea, is located offshore, within the Shorouk Block, some 190 km north of Port Said. Zohr was discovered in August 2015, obtained the Development Lease approval in February 2016, and started the production in December 2017 with a time-to-market of 2.3 years.
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 wish to cease LNG imports in 2018.
Eni holds a 60% stake in the Shorouk Block, Rosneft 30% and BP 10%. In March 2018, Eni agreed to sell a 10% stake in the concession to Mubadala Petroleum. 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 about 250,000 barrels of oil equivalent per day.