ENI Begins Producing Gas From Egypt's Zohr Field
December 20 2017 - 5:49AM
Dow Jones News
By Christopher Alessi
Italian oil and gas company ENI SpA (E) said Wednesday that it
had begun producing gas from Egypt's offshore Zohr field.
Zohr, which is located in the Shorouk Block north of Port Said,
was discovered in August 2015. The largest gas discovery ever made
in Egypt, it could hold more than 30 trillion cubic feet of gas,
ENI said.
The project "will completely transform Egypt's energy
landscape...allowing it to turn from an importer of natural gas to
a future exporter," ENI Chief Executive Claudio Descalzi said in a
statement.
ENI holds a 60% stake in Shorouk Block, while Russia's PAO
Rosneft and the UK's BP PLC (BP) own 30% and 10%, respectively.
Write to Christopher Alessi at christopher.alessi@wsj.com
(END) Dow Jones Newswires
December 20, 2017 05:34 ET (10:34 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
ENI (NYSE:E)
Historical Stock Chart
From Jun 2024 to Jul 2024
ENI (NYSE:E)
Historical Stock Chart
From Jul 2023 to Jul 2024