LeAnne Graves, April 21, 2016
Egypt’s mega gas discovery hangs in limbo as its developer cuts jobs, potentially adding it to the long list of energy projects affected as the near two-year lull in oil prices hammers budgets.
Eni, the company that discovered the offshore field on the Zohr Prospect, has begun to downsize its upstream division in Egypt, according to people familiar with the matter, suggesting that the pace of exploration could now slow.
The Italian firm last August announced the Zohr discovery, one of the Mediterranean’s largest gas finds with an estimated 850 billion cubic metres or 500,000 barrels of oil equivalent per day.
However, extracting the resource will be expensive and offshore investments have suffered as a result of low oil prices. The United Kingdom, for instance, will receive less than £1 billion (Dh5.3bn) for new projects this year compared to the £8bn annually over the past five years, according to the trade organisation Oil and Gas UK.
10/03/2016
Eni successfully performed the production test of Zohr 2X, first appraisal well of Zohr discovery, which is estimated in a deliverability of up to 250 MMScfd in production configuration.
San Donato Milanese (Mi), 10 March 2016 - Eni successfully performed the production test of Zohr 2X, first appraisal well of Zohr discovery, in the Shorouk block, offshore Egypt.
During the test, 120 m of the reservoir were opened to production. The well, constrained by surface facilities, delivered up to 44 million standard cubic feet of gas per day (MMscfd). The comprehensive set of data collected and analyzed have proved that the well has a great production capacity, which is estimated in a deliverability of up to 250 MMScfd in production configuration (about 46 thousand barrel of oil equivalent per day).
26/02/2016, CET 08:06
Eni successfully drilled a new well in the Nooros East exploration prospect, in the Abu Madi West license and it also completed the drilling of the Zohr 2X well, first appraisal well of Zohr discovery, in the Shorouk block.
San Donato Milanese (Mi), 26 February 2016 - Eni successfully drilled the "Nidoco North 1X" well, in the exploration prospect of "Nooros East", located in the Abu Madi West license, in the Nile Delta, Egypt. The new find start up is expected by the end of March 2016 and will allow the Nooros area, which started production in September 2015, just two months after the initial Nooros discovery, to reach a production of approximately 45,000 barrels of oil equivalent per day (boed). Eni, through its subsidiary IEOC, holds a 75% stake in the concession of Abu Madi West, while BP holds a 25% stake.
LeAnne Graves, April 21, 2016 
