A statement from the ministry quoted Badawi as saying that this aims to develop gas reserves and exploit opportunities to increase gas production rates again from the field, which is of great importance in Egypt.
A joint project emerged between Eni, BP, Russia’s Rosneft, and the UAE’s Mubadala Energy, in addition to the Egyptian Natural Gas Holding Company (EGAS).
The field, located in the Mediterranean Sea, is operated by Petrobel, a joint venture between Italy’s Eni and the state-owned Egyptian General Petroleum Corporation.
The ministry’s statement quoted Khaled Mowafi, head of Petro Shorouk Company, which operates in the Zohr field concession area, as saying that the work carried out during the fiscal year 2023-2024 “contributed to maintaining an average production of about two billion cubic feet of gas per day.”
He added, “The volume of investments in field activities amounted to more than $677 million during the year, while preparations are being made to drill two new wells in the first quarter of 2025.”
Eni’s director in Egypt, Francesco Gasparri, said that the necessary measures are currently being taken to launch a campaign to drill new wells with modern technology in deep water in the field’s concession area.
The Egyptian Council of Ministers estimated last July that the total investments in the field had reached 12 billion dollars so far, and it is expected to reach 15 billion during the next three years, and that work had begun to drill well No. 20 in the field with investments of 70 million dollars, which is expected. After that, Zohr production will reach 2.3 billion cubic feet per day.
Eni discovered the field in 2015 and production began in late 2017. It contains an estimated 30 trillion cubic feet of gas.
Source: Agencies
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