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Eni could bring Zohr online by October this year, although a December start-up remains the official estimate, according to reports in local Egyptian media this week. The $12bn project is due to come online in “record” time according to Eni CEO Claudio Descalzi, speaking on the firm’s 2016 results press conference in London on 1 March.
It took Eni just three months to present Egyptian authorities with a development plan, and just six months to take a final investment decision (FID).
“With projects of this size it normally takes some years to reach FID,” Mr Descalzi says. Eni was able to fast-track Zohr development as it progressed exploration and development simultaneously, drilling seven wells and launching tenders for long-lead items after the development plan was submitted, Mr Descalzi explained. (CONTINUED - 848 WORDS)
DATA INSIDE THIS ARTICLE
|chart||Zohr Production Profile Indicates 22-23tcf Recoverable Resource|
|chart||Zohr Stakes* (%)|