Zohr Number-Crunching

Officially Eni has only given a 30tcf “gas in place” figure for its estimate of the size of what is supposedly the Mediterranean’s largest gas find.

It has yet to give an estimate for how much it expects to be recoverable, the normal metric for fields entering the development phase, as Zohr did earlier this year (MEES, 25 March). However, MEES number-crunching based on comments by Eni management and company presentations indicates that estimates of 22-23 tcf given by Egyptian officials (ie around-three quarters of gross reserves – MEES, 27 November) are in line with Eni’s thinking (see chart).

As an aside, it is less than 100% clear if Zohr will ultimately be seen as the region’s largest ever gas discovery. It is a close-run between it and Israel’s Leviathan, which operator Noble Energy estimates holds 22 tcf of recoverable reserves. And of course the region could yet yield more riches. (CONTINUED - 193 WORDS)