Oil & Gas Eni Makes Largest Gas Discovery in Mediterranean Sea
The company began production in the Zohr field and has discovered potential resources equivalent to 5.5 billion barrels of oil in record time.
Milan/Italy – Eni has produced its first gas from the supergiant Zohr field in a record time for this type of field in less than two and a half years. The discovery, which is located in the Shorouk Block, offshore Egypt approximately 190 km north of Port, has a potential in excess of 30 Tcf (Trillion Cubic Feet) of gas in place (about 5.5 billion barrels of oil equivalent).
Zohr, discovered in August 2015, obtained the investment authorization after six months. It is the largest gas discovery ever made in Egypt and in the Mediterranean Sea, and will be able to satisfy a part of Egypt’s natural gas demand for decades to come. Zohr is one of Eni’s seven record-breaking projects, which have witnessed rapid development and production.
Eni holds a 60 % stake in Shorouk Block, Rosneft 30 % and BP 10 %. The company is co-operator of the project through Petrobel, jointly held by Eni and the state corporation Egyptian General Petroleum Corporation, on behalf of Petroshorouk, jointly held by Eni and the state company Egyptian Natural Gas holding Company.