Egypt expects Zohr field’s investments to hit $15bln in 3 years - ZAWYA

July 25, 2023

Zohr, the largest natural gas field in the Mediterranean, is anticipated to attract investments totaling $15 billion over the next three years, the Egyptian Cabinet’s media center announced on July 24th.

Current investments into the giant offshore natural gas field are estimated at $12 billion so far.

The media center also denied viral news claiming that Zohr was experiencing technical issues.

It added that production from 19 wells at Zohr have already started, with the 20th well in the field currently being constructed with $70 million in investments.

The average production from the field is about 2.3 billion cubic feet per day (bcfd).

Italian company Eni had discovered Zohr in 2015 and started producing in late 2017. The field is estimated to have around 30 trillion cubic feet of natural gas.

Eni finishes gas production test of Zohr field’s last well - DAILY NEWS EGYPT

Sunday December 22, 2019
Mohamed Adel

The Italian company Eni has completed the production test of the 14th and last well in the Zohr gas field in the deep waters of the Mediterranean, bringing the total production capacity of the field to about 3.2bn cubic feet per day (scf/day).

A source in the petroleum sector told Daily News Egypt that the current production capacity of the field is about 3bn scf/day, and will increase to 3.2bn after completing the implementation of the gas pipeline linking the field to the national grid in April.

He said that production has been reduced from the rest of the wells until the 14th well is tested, which has a production rate of 150-250m scf/day because the local market currently does not need any additional quantities of natural gas.

Egypt- Zohr gas condensates production increases to 4,000 tonnes per day - MENAFN / DAILY NEWS EGYPT

APRIL/20/2019 7:17:08 PM

(MENAFN - Daily News Egypt) [The source] pointed out that completing the development of the second phase of Zohr will take place in June, increasing the total production capacity to 2.7bn scf/day.

He added that Eni aims to invest about $4bn in the development of the second phase of Zohr this year, increasing the company's total investments in the project to $16bn.

The source stressed that the ministry of petroleum seeks to speed up the implementation of the next phase of Zohr upon the directives of President Abdel Fattah Al-Sisi to speed up connecting the project's production to the national grid.

Eni to increase its investments in Zohr to USD 16 bn - ENTERPRISE

Monday, 8 October 2018

Italy’s Eni plans to increase its investments in the Zohr gas field to USD 16 bn, up from USD 12 bn, by the time it completes the field’s development in July 2019, according to an unnamed source. 

Production from the field reached 2 bcf/d last month and is expected to plateau at 2.7 bcf/d next year.

EKH studies investing USD 110 mn in North Sinai gas fields this year - ENTERPRISE

Tuesday, 27 February 2018

INVESTMENT WATCH- Our friends at Egyptian Kuwait Holdings (EKH) could invest USD 110 mn this year in developing five natural gas wells in North Sinai, the company said in a bourse statement (pdf). 

Four of the wells the company is studying this year will be in the Camus gas field, and one in the Tao field, the company added. 

The investment will be through subsidiary NSCO Investments Limited, in which EKH acquired a 99.99% stake last week. The company announced that NSCO had completed development of two wells in the Tao field recently.

Energy group DEA to invest $500 mln in Egypt oilfields - REUTERS

CAIRO, FEBRUARY 11, 2018 / 9:46 AM

Energy group DEA plans to invest nearly $500 million in developing its oilfields in Egypt over the next three years, its chief executive office said.

“We intend to pump around $500 million over the next three years in Egypt to develop the West Delta, DIsouq and the Gulf of Suez fields,” Maria Moraeus Hanssen told journalists in Cairo on Saturday evening.

The Hamburg-based company has been involved in exploration and development for oil and gas in Egypt since 1974. It is a partner of BP in the West Nile Delta gas fields.

Russia's Rosneft says to invest over $2 bln in Egypt's Zohr in 2018-2021 - REUTERS

NOVEMBER 14, 2017 / 2:29 PMReporting by Polina Devitt; writing by Vladimir Soldatkin; Editing by Christian Lowe

MOSCOW - Russia’s largest oil producer Rosneft will invest more than $2 billion in Egypt’s Zohr gas field in the next four years, the company said in a presentation on Tuesday.

It also said the production plateau at the field, where Rosneft may increase its stake to 35 percent, is seen at 29 billion cubic metres of gas a year. 

Investments in Egypt's Zoher may exceed USD4bn: official - AL MAL

Tuesday 15 August 2017 06:37 PM
Nesma Bayumi

Total investments injected into Zohr gas field is expected to surge to USD4 billion by the third quarter of this year up from USD3.8bn now, according to an official at the Egyptian Natural Gas Holding Company (EGAS).

The aggregate costs of Zohr gas field, occupying nearly 1mn sqm, amount to USD12 and 15 billion, according to the official.

Nearly 81.2% of the project is due to kick-start production this year end.

" After digging nearly 7 to 8 wells, additional complementary, horizontal wells as well as those parallel to the main ones are to be drilled soon," said the source.

The agreement regulating Zohr field has been signed with the Italian Eni company in 2014 whereas drilling kicked off in July 2015.