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JAKARTA (rambuenergy.com) – Italy’s oil and gas company Eni has made a supergiant gas discovery at its Zohr Prospect, in the deep waters of Egypt, the company announced.
The discovery well Zohr 1X NFW is located in the economic waters of Egypt’s Offshore Mediterranean, in 4,757 feet of water depth (1,450 metres), in the Shorouk Block, signed in January 2014 with the Egyptian Ministry of Petroleum and the Egyptian Natural Gas Holding Company (EGAS) following a competitive international Bid Round.
According to the well and seismic information available, the discovery could hold a potential of 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.
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. This exploration success will give a major contribution in satisfying Egypt’s natural gas demand for decades.
Eni said in a statement that it will immediately appraise the field with the aim of accelerating a fast track development of the discovery that will utilise at best the existing offshore and onshore infrastructures.
Zohr 1X NFW was drilled to a total depth of approximately 13,553 feet (4,131 metres) and hit 2,067 feet (630 metres) of hydrocarbon column in a carbonate sequence of Miocene age with excellent 2 reservoir characteristics (400 metres plus of net pay). Zohr’s structure has also a deeper Cretaceous upside that will be targeted in the future with a dedicated well.
Eni’s CEO, Claudio Descalzi, has recently travelled to Cairo to update Egypt’s President, Abdel Fattah Al-Sisi, on this important success, and discuss this discovery with the Prime Minister, Ibrahim Mahlab, and the Minister of Petroleum and Mineral Resources, Sherif Ismail.
“This historic discovery will be able to transform the energy scenario of Egypt in which we have been welcomed for over 60 years. The exploration activities are central to our growth strategy: in the last 7 years we have discovered 10 billion barrels of resources and 300 million in the first half of the year, confirming Eni’s leading position in the industry. This exploration success acquires an even greater value as it was made in Egypt which is strategic for Eni, and where important synergies with the existing infrastructures can be exploited allowing us a fast production startup”, Claudio Descalzi said.
Eni, through its subsidiary IEOC Production B.V., holds a 100 percent of the Contractor’s working interest in the Shorouk Block and is the operator of the concession. Eni has been present in Egypt since 1954 through its subsidiary IEOC, a company which has always been a frontrunner in exploring and exploiting gas resources in Egypt since the discovery of the Abu Maadi Field in 1967.
By adopting new exploration concepts, leading edge technologies and operational approaches, through AGIBA and Petrobel, operating companies participated by IEOC and EGPC, Eni has successfully managed to double production of oil from the Western Desert and the GOS Abu Rudeis Concessions in the last three years as well as to revamp production from the Abu Maadi plays in the Nile Delta area following the recently announced Nidoco NW 2 discovery (Nooros prospect) currently already in production.
Eni is the main hydrocarbon producer in Egypt, with a daily equity production of 200,000 barrels of oil equivalent.
In Indonesia, Eni is currently developing deepwater project Jangkrik field in offshore East Kalimantan. (*)
