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Tag: Shorouk Concession

Eni begins producing from Zohr, the largest Mediterranean gas discovery

Posted: December 20, 2017 at 4:34 pm   /   Oil & Gas

The field, with potential resources in excess of 30 Tcf of gas in place, started-up in less than two and a half years from the discovery: a record time for a field of this size in deep waters. Eni has produced its first gas from the supergiant Zohr field in a record time for this […]

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Eni's sale of 30% stake in Egypt's offshore Shorouk concession to Rosneft confirms validity of "dual exploration" strategy

Posted: October 10, 2017 at 2:41 pm   /   Oil & Gas

Eni completes sale of a 30% stake in the Shorouk concession, offshore Egypt, to Rosneft. Following the finalization, Eni now holds a 60% stake in the concession, Rosneft 30% and BP 10%. Eni has finalized the sale of a 30% stake in the Shorouk concession, where the super-giant Zohr gas field is located, to Rosneft. […]

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Egypt speeds up maritime border negotiations, making way for offshore discoveries

Posted: August 5, 2017 at 5:22 pm   /   Oil & Gas

Egypt is speeding up negotiations with neighboring countries to finalize the demarcation of borders in the Mediterranean, which holds huge natural gas reserves compared to the Red Sea. The country has initiated talks with Greece to draw the maritime border, according to local sources. Egypt and Cyprus are also expected to sign the official border agreement […]

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BP on track to bring Egypt's Zohr online by end of 2017

Posted: August 2, 2017 at 3:44 pm   /   Oil & Gas

BP is on track to start up its Juniper project off Trinidad in the coming weeks, and bring Eni’s Zohr online offshore Egypt by the end of 2017. The supermajor was hopeful in its Q2 2017 earnings call, announcing the possibly of having final investment decisions (FID) for additional projects in Gulf of Mexico, Egypt, […]

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Eni and BP complete sale of 10% of Shorouk concession offshore Egypt

Posted: February 14, 2017 at 8:25 pm   /   Oil & Gas

Eni’s CEO, Claudio Descalzi, Bob Dudley, CEO of BP, and the Egyptian Minister of Petroleum, Tarek El Molla signed a deed completing the sale to BP of a 10% stake in the Shorouk concession, offshore Egypt. The signing took place in Cairo in the presence of the Prime Minister Sherif Ismail. Eni and BP first […]

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Eni agrees with government to export part of Zohr field production via Damietta processing plant

Posted: December 19, 2016 at 4:10 pm   /   Oil & Gas

Eni has reached an agreement with the government to export some of the gas produced from the Shorouk concession’s Zohr gas field through the processing plant in Damietta, Al Borsa reported. Eni is planning a ground pipeline connecting the Zohr field to the plant, from which the gas would then be exported to Europe, the […]

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Is Rosneft looking to build a pipeline to export gas from Zohr to Europe?

Posted: December 16, 2016 at 3:11 pm   /   Oil & Gas

There is speculation in the Russian media this week about whether Rosneft is planning a pipeline to export gas from the Zohr field to Europe. Russia’s Economy Today (Russian) quotes energy analyst Igor Yushkov from that country’s National Energy Security Fund as saying that Rosneft’s acquisition of a 30% participating interest in Eni’s Shorouk offshore […]

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Eni received government approval prior to selling Zohr stake to Rosneft

Posted: December 14, 2016 at 4:10 pm   /   Oil & Gas

Eni obtained approval from the Egyptian government before moving forward with selling a stake of the Shorouk concession, which contains the Zohr field, to Rosneft, a company representative told Al Borsa. The source also added that the sale is exempt from value-added tax as per the concession agreement. (Source:

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Bloomberg: Rosneft snaps up stake in Eni’s giant Egyptian gas discovery

Posted: December 13, 2016 at 12:22 am   /   Oil & Gas

• Company buys 30% of Shorouk concession, has option for 5% more. • Russian energy producer values deal at as much as $2.8 billion. Rosneft PJSC agreed to buy as much as 35 percent of a natural-gas project off Egypt, joining Eni SpA and BP Plc in the largest discovery in the Mediterranean Sea. The […]

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Eni sells 30% stake in Egypt's Zohr field to Rosneft

Posted: December 13, 2016 at 12:12 am   /   Oil & Gas

Italian energy company Eni will sell a 30 percent stake in its giant Egyptian offshore gas field Zohr to Russia’s Rosneft for $1.575 billion, pressing ahead with asset sales to fund investments and offset weak oil prices. Eni, which owns 90 percent of the Shorouk concession containing Zohr, said on Monday that Rosneft would pay […]

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