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Natural gas: Eni invests more than $1 billion in Egypt

05/05/2025
Source : ORISHAS FINANCE
Categories: Raw materials

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The Italian oil company Eni has announced its intention to invest more than $1 billion to increase production at the Zohr field, the largest gas field in Egypt, according to the energy platform MEES.

These investments aim to add an additional trillion cubic feet to the field's proven reserves. Eni also announced that it wanted to link its discoveries in Cyprus to the Egyptian gas liquefaction infrastructure, thus strengthening Egypt's position as a regional gas trading and liquefaction platform

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Production at the Zohr field had declined to about 1.5 billion cubic feet/day, less than half of its maximum capacity of 3.2 billion cubic feet/day.

The Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, announced that initial estimates for the third phase of the Zohr Field Development Project indicate that approximately 1 trillion cubic feet of gas can be added to the field's reserves.

During this phase, a floating treatment unit will be used 220 kilometers offshore, to separate gas and condensate in order to start production by 2028.

Two new wells are also being drilled as part of the 2026 plan. Once commissioned, they are expected to increase field production by approximately 300 million cubic feet/day

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ENI launched the drilling of three new wells in Zohr in early 2025, devoting 320 million dollars to this operation.

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