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Tag: Zohr

Eni Exploration Chief: There could be another "Zohr-like" discovery in region

Posted: March 15, 2017 at 4:43 pm   /   Oil & Gas

The discovery of a huge natural gas deposit in Egyptian waters has boosted hopes of other such finds in the eastern Mediterranean that could help meet Europe’s energy needs, a senior official with Italian oil and gas company Eni said Tuesday. Eni SpA Chief Exploration Officer Luca Bertelli said his company’s “milestone” discovery of Zohr, […]

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Egypt’s natural gas turns the corner

Posted: March 9, 2017 at 2:27 pm   /   Oil & Gas

The Egyptian Oil Ministry wants to increase the gas production by 50% by 2018, continue to invest in energy and repay the Egyptian debt in the sector amounted to 3.6 billion dollars. New finds have already given rise to talk of Egypt resuming exports soon, aided by a modernization programme to make the market more […]

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FT: Eni’s offshore drilling gamble looks set to pay off

Posted: March 1, 2017 at 7:37 pm   /   Oil & Gas

Over a lunch of locally caught Mediterranean seafood, Claudio Descalzi delivers a pep talk to managers around a large dining table in the offices of a petroleum plant near Port Said, Egypt. “We need to do more, more, more every day,” says the chief executive of Eni, the Italian oil and gas group. He is […]

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Video: Fossil fuel hope found in Egypt – Claudio Descalzi visits Port Said gas plant project (FT)

Posted: March 1, 2017 at 5:32 pm   /   Oil & Gas

The FT’s energy editor Andrew Ward on the geopolitical and business significance of the newly discovered Zohr gas field in the Mediterranean. (Source: Financial Times)

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French Ambassador calls on France's Oil & Gas companies to take advantage of Egypt’s investment opportunities

Posted: February 16, 2017 at 10:08 pm   /   Oil & Gas

It’s a historic time for Egypt, as new natural gas explorations will bring self sufficiency to the country, said Marc Benayoun, CEO of Edison. In his speech on Tuesday at the Egypt Petroleum Show (EGYPS) currently being held in Cairo, Andre Baran, France’s ambassador to Egypt, called for French companies operating in the oil and […]

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Eni, BP pouring more investment into Egypt than anywhere else

Posted: February 15, 2017 at 8:21 pm   /   Oil & Gas

Eni SpA will start producing from the giant Zohr natural gas field off Egypt’s Mediterranean coast by the end of 2017 and plans to invest $10 billion in the North African country over the next five years, Chief Executive Officer Claudio Descalzi said. Production plans for Zohr are on schedule, and Egypt will be Eni’s […]

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Oil companies bullish on Egypt, eyeing more investment, discoveries

Posted: February 15, 2017 at 8:15 pm   /   Oil & Gas

Major international oil companies say they plan to step up their investments in Egypt, expecting to find more oil and gas now that Eni’s giant Zohr gas discovery has put its Mediterranean waters on the map. Once a net gas exporter, Egypt has turned into a major importer in recent years as growing domestic demand […]

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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 begins drilling eighth Zohr well

Posted: February 13, 2017 at 12:56 pm   /   Oil & Gas

Eni began drilling the eighth well of the Zohr gas field last week after having completed drilling in seven other wells, an Oil Ministry source tells Al Shorouk. Eni will drill deeper on the eighth well to tap into larger reserves, the source added. (Source: Enterprise.press)

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FT: Oil and gas discoveries dry up to lowest total for 60 years

Posted: February 13, 2017 at 12:54 pm   /   Oil & Gas

Oil and gas discoveries are at a 60-year low, with the Zohr gas field discovered off Egypt’s shore in 2015 being the most recent giant discovery, the Financial Times reports. As large fields have become more difficult to find, many companies are putting exploration on ice, pushing the number of oil and gas discoveries in […]

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