Italian oil company Eni said on Friday that the production capacity of Egypt’s giant Mediterranean Zohr gas field stood at 1.6 billion cubic feet (bcfd) and would reach 2 billion bcfd by September.
Eni raised 50 million euros ($58 million) as an advance on future gas supplies to Egyptian state-owned partners to finance Zohr, the statement added.
Zohr, located in the offshore Shorouk block about 190 km north of Port Said, was discovered in 2015 and holds an estimated 30 trillion cubic feet of gas.
Production from the giant offhore Zohr field started in December 2017.
In April, Eni said Zohr had a reached capacity of 800 MMSCFD, or 150,000 barrels of oil equivalent (BOE) per day.
The company said production increases are set to continue in order to reach 1.2 bcfd last May, 2 bcfd by end 2018, finally plateauing at 2.7 BCFD in 2019.
Egypt has been seeking to speed up production from recently discovered fields, with an eye to halting imports by 2019.
Source: Reuters
