Eni has started production at the Zohr project offshore Egypt, the largest natural gas discovery ever in the Mediterranean Sea. The field, which is located in the Shorouk Block, has potential resources in excess of 30 Tcf of gas in place or approximately 5.5 billion BOE, according to the company. Discovered in August 2015, Zohr obtained investment authorization in only 6 months and began production less than 2½ years after discovery. Zohr “will completely transform Egypt’s energy landscape, allowing it to become self-sufficient and to turn from an importer of natural gas into a future exporter,” Eni’s CEO Claudio Descalzi said. The company holds a 60% stake in the Shorouk Block, with Rosneft (30%) and BP (10%) holding the remainder.
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