Cairo – The Egyptian Ministry of Petroleum and Mineral Resources approved Eni’s assignment, by the Egyptian Natural Gas Holding Company (EGAS), in the Zohr Development Lease. Following the establishment of the contractual framework, the Lease clearly stipulates for the start of the gas field development in Grant Shorouk, offshore Egypt. The development plan provides for the start of production by the end of 2017, just two years after the discovery, with a gradual increase that will reach a peak of about 75 million standard cubic meters of gas per day (equivalent to about 500 000 barrels of oil equivalent per day) by 2019. In order to realize a project of this size in such a short time, Eni will rely mainly on Petrojet, Enppi and Saipem, which have always contributed to the success of Eni’s development activities in Egypt. The discovery of Zohr was announced on August 30, 2015 following the drilling of the Zohr-1 well, which occurred within the Shorouk Concession Agreement, for which IEOC is the sole operator. Eni is currently drilling Zohr-2, the first delineation well of the discovery. Eni has been present in Egypt since 1954, where it operates through IEOC Production BV, historical pioneer in the exploration and exploitation of gas resources since the discovery of Camp Abu Madi in 1967. The equity production in the country was about 200.000 barrels of oil equivalent per day in 2015. (9Colonne)
