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Sunday, 3 February 2019

Zohr produces 12.2 bcm natural gas in 2018

The Zohr field produced 12.2 bcm of natural gas in 2018, Russian energy giant Rosneft said on Thursday. The company, which holds a 30% stake in the Shorouk concession, reported that production in 2H2018 totaled 9.1 bcm, an almost three-fold increase from the 3.1 bcm produced in 1H2018. Field operator Eni expects output to continue its rapid rise in 2019, reaching 2.7 bcf/d by July as it adds new wells to production and brings the sixth gas processing facility online.

Zohr is key to Eni’s Middle East ambitions: As output continues to rise, Zohr is “key” to Eni’s broadening ambitions in the Middle East, Reuters says. In the nine months since it sold a 10% stake to Mubadala, the Italian company has inked multiple nine-figure upstream agreements with Gulf countries. “Zohr was used as a way in,” Mediobanca oil analyst Alessandro Pozzi told Reuters. “Since then the group has ramped up operations lightning fast in an area that has some of the world’s biggest resources.”

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