Zohr to Start Gas Production This Year

Zohr to Start Gas Production This Year
Zohr will start gas production in December, according to an investor presentation held in Milan by Eni.

Zohr will start gas production in December, according to an investor presentation held in Milan today by Eni.

The Zohr discovery, which was made in August 2015, is believed to hold 5.5 billion barrels of oil equivalent, according to Eni’s website. A December production commencement date would mark a 2.3 year timespan from discovery to output start-up.

A number of other projects are also expected to come online over the next two years, including the OCTP Oil development in Ghana, the West hub (Ochigufu) development in Angola and the Jangkrik development in Indonesia.

Eni CEO Claudio Descalzi was positive about the group’s performance in the presentation, which revealed that the Italian energy firm was emerging into a ‘fitter company’.

In the presentation, Eni highlighted that it would be reducing its capital expenditure to 31.6 billion euros in the 2017-2020 period, marking an 8 percent cut from its previous 2016-2019 plan. 

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Andreas Exarheas
Assistant European Editor | Rigzone
 -  Hundreds of Dong Energy Workers to Tra... (May 24)
 -  Wood Group Indicates Potential Job Cut... (May 24)
 -  BP Brings Quad 204 Project Online (May 22)
 -  UK Operators Must Take Time to Invest ... (May 19)
 -  Cairn Flows Oil From SNE-6 Well, 'Very... (May 18)


Most Popular Articles

From the Career Center
Jobs that may interest you
Landman - Non-Op Business Development
Expertise: Production Operator
Location: Denver, CO
 
Contract Lease Operator (URGENT Need)
Expertise: Production Operator
Location: Wheeler, TX
 
Sr Mechanic - Powder River Basin Operations
Expertise: Production Operator
Location: Gillette, WY
 
search for more jobs

Brent Crude Oil : $53.96/BBL 0.35%
Light Crude Oil : $51.36/BBL 0.21%
Natural Gas : $3.209/MMBtu 0.34%
Updated in last 24 hours