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Sunday, 10 February 2019

Zohr output increases to 2.1 bcf/d

Zohr output increases to 2.1 bcf/d: Output at Zohr natural gas field has increased to 2.1 billion cubic feet per day (bcf/d), the Oil Ministry said in a statement. The field’s last production milestone came in September last year when output reached 2 bcf/d. Estimates given by field operator Eni and the ministry in October suggest that production could rise to 2.7 bcf/d by July — six months ahead of schedule.

Capital investment to slow in FY2019-20: Eni and its partner companies EGAS and Petrobel will invest a further USD 1.2 bn in FY2019-20 to “intensify development activities in the Zohr area,” the statement said, a notable decrease from the USD 3.2 bn spent in the current fiscal year. Eni said back in October that it expects its total investments in the project to hit USD 16 bn by July.

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