Italian energy giant Eni, the largest foreign investor in Egypt's energy sector, is planning to drill two new wells in the Zohr field in the second half (H2) of 2025, with investment estimated at $160 million, an unnamed government official told Asharq Business.

The Zohr field, the largest gas field in the Mediterranean, contributes approximately 35% of Egypt's current natural gas production, which averages around 5 billion cubic feet per day.

Eni is currently in the evaluation phase of research and development for the Shorouk concession area, which includes the Zohr field, the source said.

The company is conducting geological studies to prepare for the resumption of drilling operations in the field and the surrounding area.

Over the past six months, the Zohr field has produced an average of 2 billion cubic feet of natural gas per day, along with about 3,700 barrels per day of condensates.

The Zohr field was discovered in 2015 and started production in 2018.

© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).