trending Market Intelligence /marketintelligence/en/news-insights/trending/hu1xcglbr3bi6r3jfl5nba2 content esgSubNav
In This List

3rd production unit starts operation at Zohr field offshore Egypt

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Insight Weekly: US recession outlook; mortgage activity slowdown; climate disclosure push

Blog

Firms Realize the Value of Data Driven Decision Making

Blog

Insight Weekly: Cybersecurity M&A momentum; US banks' loan growth; miners' labor supply woes


3rd production unit starts operation at Zohr field offshore Egypt

The third production unit at the Zohr project, the largest deepwater gas field offshore Egypt, has started operation, increasing installed capacity to 1.2 Bcf/d, according to a May 10 news release.

The third phase of the project, which is in the Shorouk Block, began operation shortly after the commissioning of the second phase, which doubled capacity to 800 MMcf/d, and five months after the start of production in December 2017.

Production at Zohr is expected to reach 2.0 Bcf/d by the end of this year, and should hit 2.7 Bcf/d by the end of 2019.

Italian oil major Eni SpA holds a 60% stake in the project, while Russian oil giant PJSC Rosneft Oil Co. has a 30% interest and London-based BP PLC has a 10% stake. The company is co-operator of the project through Petrobel, which is jointly held by Eni and the state-owned Egyptian General Petroleum Corp. on behalf of Petroshorouk, which is jointly held by Eni and the Egyptian Natural Gas Holding Co.