Italy’s Eni discovers large gas reserve in Egypt
Eni reported that Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and may become one of the world’s largest natural-gas discoveries. The company also reported that the field will be able to satisfy Egypt’s natural gas demand for decades following its full development. According to Eni, Egypt still has great gas potential. Eni has a 35% share in the Zohr gas reserves and is expected to deliver a development plan by the end of October regarding the number of wells it will dig, said Egypt’s petroleum minister. Production from the new discovery, meanwhile, is expected to begin in early 2018.
The Petroleum Minister also said that the output from the discovery of the new gas field will not halt talks and initial agreements for importing gas from Mediterranean countries like Israel and Cyprus.
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