Eni’s mega gas discovery in Egypt’s Mediterranean area, Zohr, contains only 16 tcf of recoverable reserves, as opposed to the originally announced reserves of 30 tcf, an official at EGPC told Egypt Oil & Gas.
In November of 2015, Mohamed Al Masry, Chairman of EGPC has stated that between 22 and 26 tcf of gas are expected to be extracted from the field, noting that drilling will start at the beginning of 2017.
According to Amwal Al Ghad, Eni started drilling 20 wells in December of 2016, at an investment cost of $12b.
Egypt’s current natural gas reserves are estimated at 57.04 tcf, according to EGPC sources.
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