Italy’s Eni is focused on starting production at its giant offshore Zohr gas field in Egypt by the end of 2017, the company’s CEO, Claudio Descalzi, said at an International Energy Agency event in Paris, Reuters reported.
Descalzi added that Eni was moving fast on the project although there were some challenges. “We have already started the civil work. It is challenging but we are focused,” Descalzi noted.
Meanwhile, Eni has completed the drilling of the third gas well at its giant offshore Zohr gas field in Egypt, Daily News Egypt wrote. The initial estimations of the third deepwater well are larger than the first and the second, with estimated reserves of 30tcf.
A senior official from Eni told the daily that the initial production from the third gas well is very promising and the company is determining the volume of the new reserves. He added that Eni will start drilling the fourth gas well in the Shorouk concession in the second half of April, and will complete drilling within 40 days.
Eni seeks to finish the first stage of the Zohr development lease, which includes drilling six gas wells, by the end of 2016, the official said.
The official explained that the initial results shown in the second well indicate an estimated 20% increase in the gas reserves. This translates to an increase in the total production after the end of the development process, with investments of approximately $12b.