Mubadala onboard at Zohr offshore Egypt
Eni has completed its sale of a 10% stake in the Shorouk concession in the Egyptian sector the Mediterranean Sea to Mubadala Petroleum.
SAN DONATO MILANESE, Italy – Eni has completed its sale of a 10% stake in the Shorouk concession in the Egyptian sector the Mediterranean Sea to Mubadala Petroleum.
The concession contains the giant Zohr gas field. Eni, through its subsidiary IEOC, now holds a 50% interest, other partners being Rosneft (30%) and BP (10%).
Ramp-up of production continues with the aim of reaching 2 bcf/d of total installed treatment capacity by the end of 2018, and a production plateau of 2.7 bcf/d by the end of next year.
Zohr currently produces more than 1.1 bcf/d, corresponding to 200,000 boe/d.
Petrobel, the operating company jointly owned by Eni and EGPC, manages the project on behalf of Petroshorouk (jointly owned by Eni and its partners) and state-owned Egyptian Natural Gas Holding Co. (EGAS).