Eni has made a world class supergiant gas discovery at its Zohr Prospect in the deep waters of Egypt. The well is located in the economic waters of Egypt’s Offshore Mediterranean, in 1,450 metres of water depth, in the Shorouk Block.
According to the well and seismic information available, the discovery could hold a potential of 850 bcm (30 tcf) of lean gas in place, equivalent to almost 20 times the natural gas consumption of Egypt (44.4 bcm in 2014). Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world’s largest natural-gas finds. Total investment in the gas field discovered is expected to reach US$7bn.
The Shorouk Block was signed in January 2014 with the Egyptian Ministry of Petroleum and the Egyptian Natural Gas Holding Company (EGAS) following a competitive international Bid Round. The group, through its subsidiary IEOC Production, holds a 100% of the Contractor’s working interest in the Shorouk Block and is the operator of the concession.
Eni is the main hydrocarbon producer in Egypt, with an equity production of 200,000 boe/d.