Egypt gas discovery could become one of the world’s largest natural-gas finds: ENI

Egypt aims to reach self-sufficiency with natural gas within 5 years as a result of Eni's discovery, as well as other possible findings, according to a petroleum ministry spokesperson

Randa Ali , Waad Ahmed

AHRAM ONLINE - Sunday 30 Aug 2015

Italy's Eni has discovered gas reserves of up to 30 trillion cubic feet in the Zohr prospect in Egypt's Mediterranean, making it the biggest gas discovery ever in the country, the Egyptian petroleum ministry said on Sunday.
"We are talking about a discovery that provides a third of Egypt's [natural gas] reserves which stands at 65 trillion cubic feet," Hamdy Abdel-Aziz, the petroleum ministry spokesman told Ahram Online.
The newly-discovered well 'Zohr' holds a potential 30 trillion cubic feet of lean gas in place (5.5 billion barrels of oil equivalent in place) covering an area of about 100 square kilometres, according to a statement by Eni.
"Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world’s largest natural-gas finds," Eni said in a statement.
The discovery was made in the Shorouk block that was awarded to Eni in January 2014 following an international bid, Eni said.
The well 'Zohr' is located in the economic waters of Egypt’s Mediterranean, at the depth of 4,757 feet in the sea (1,450 metres), Eni added.
Production of the new discovery should commence within 30-36 months, according to Abdel-Aziz.
He added that the government expects to reach "self-sufficiency" within five years with the help of Eni's discovery, in addition to more expected findings.

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