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Eni and Egypt to Restart Drilling at Zohr Gas Field to Boost Output
EEni(E) ZACKS·2025-01-06 13:26

Core Insights - Eni SpA is initiating a drilling campaign at the Zohr offshore gas field in Egypt to address declining gas production and enhance output from a major gas field [1][6] - The Zohr gas field, discovered by Eni in 2015, has seen a decrease in domestic gas production in Egypt since 2021, reaching a six-year low in 2024 [2][4] - The Saipem 10000 drilling vessel will utilize advanced technologies to explore additional reserves within the Zohr field [3][5] Company Strategy - Eni's commitment to resuming drilling operations emphasizes the use of cutting-edge technology to meet production targets [5] - The drilling campaign aligns with Eni's broader strategy to optimize its assets in Egypt and support the country's goal of becoming a reliable energy hub [6] Industry Context - The Zohr gas field is crucial to Egypt's energy strategy, originally aimed at boosting gas exports but now focused on stabilizing output for local and export needs [4] - The Egyptian Petroleum Ministry supports the initiative, highlighting the field's potential to revitalize the nation's energy sector [5]