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Eni Advances Zohr Gas Field Development, Boosts Egypt's Gas Supply
ZACKSยท 2025-07-03 16:00
Core Insights - Eni S.p.A has completed drilling operations at the Zohr gas field, enhancing Egypt's natural gas production capacity [1][8] - The Saipem 10000 drillship has been instrumental in drilling additional wells at the Zohr field, with ongoing operations aligned with Egypt's development plan [2][3] - The Zohr gas field is a significant asset, containing approximately 480 million barrels of oil equivalent, and is crucial for Egypt's energy strategy [4][5] Production Capacity and Future Plans - The completion of drilling at the Zohr 6 well has added 60 million cubic feet of natural gas per day to Egypt's production capacity, supporting national energy requirements [3][8] - The upcoming Zohr 13 well is projected to contribute an additional 55 million cubic feet per day, further bolstering production [4][8] - Eni aims to increase production to 3.2 billion cubic feet per day by the end of 2025, with plans for two more wells and a $360 million investment in 2026 [5][8] Industry Context - The growth in natural gas output from the Zohr field aligns with Egypt's strategy to enhance local production and ensure a steady energy supply across various sectors [3] - Eni's operations at the Zohr field reflect the broader trends in the energy sector, focusing on maximizing production from existing resources [5][8]