The UK government on 17 December placed Egypt’s flagship Zohr gas field on a list of projects exempt from sanctions on Russia. Russian state firm Rosneft holds a 30% stake in the project, that is operated by Italy’s Eni (50%) alongside UK major BP (10%) and Abu Dhabi state firm Mubadala Energy (10%).
Zohr is producing around 1.4bn cfd currently, a far cry from its peak of 2.96bn cfd in 1Q 2021, after it was able to stabilize output through two successful sidetrack wells last year (see p4). (CONTINUED - 171 WORDS)