Investments in Zohr gas field reach $3.8 billion

CAIRO – 3 August 2017: Total investments spent on Egypt’s “super giant” natural gas field on the Mediterranean, Zohr, have so far reached $3.8 billion, head of the project’s local operator Belayim Petroleum Company (Petrobel) Atef Hassan said Thursday.

In a meeting with Minister of Petroleum Tarek el-Molla, Hassan said that seven wells have been drilled, leaving two more to be dug, Atef said in a statement.

Works of Zohr gas processing plant are 81 percent complete, Atef noted, adding that Petrojet and Petroleum Marine Services finished manufacturing and installing Zohr’s marine control pier ahead of schedule.

Earlier this week, Italian energy company Eni, Zohr’s operator, said that development works of Egypt’s “super giant” natural gas field are now 80 percent complete.

In a meeting with Prime Minister Sherif Ismail, Eni’s CEO Claudio Descalzi said the work progress marked a record in the oil industry, having been developed in less than two years.

The Zohr gas field is the largest natural gas field found in the Mediterranean and was discovered in 2015 by the Italian energy company Eni. The field has an area of 100 square meters at a depth of 1,450 meters.

It will start production through three phases. The first will be launched in a few months with an output of one billion cubic feet per day (cfd). When all seven fields are complete by 2019, this amount will increase to 2.7 billion cfd.