Eni’s Q2 results on 31 July saw the firm post record quarterly Egyptian ‘oil equivalent’ output of 371,000 boe/d, topping the previous record 369,000 boe/d set in Q3 2019. Egypt’s 23.2% of Eni’s overall net output for Q2 was also a record.
Despite this, the firm barely mentioned Egypt on its 29 July Q2 earnings call, perhaps not wanting to draw attention to problems at its flagship 21.5tcf Zohr field. The giant field, which Eni operates with 50%, has suffered repeated outages since briefly hitting 3.2bn cfd capacity for the first time in February and early March. The outages came as several of Zohr’s 15 production wells were afflicted by water breakthrough problems (MEES, 11 June). Production averaged just 2.3-2.6bn cfd between April and early June, though it has rallied since (MEES, 2 July). (CONTINUED - 469 WORDS)