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2017-12-20 19:20:00

BP: ZOHR HAS STARTED

BP: ZOHR HAS STARTED

BP - BP confirmed that production has started from the super-giant Zohr gas field, offshore Egypt. The field is operated by Eni, through its joint venture with The Egyptian General Petroleum Corporation (EGPC), and is the largest natural gas discovery yet to be made in the Mediterranean Sea.

Delivery of first gas from Zohr completes BP's programme of seven Upstream major project start-ups in 2017. Zohr follows the earlier start-ups of the Khazzan project in Oman, Persephone in Australia, Juniper and the Onshore Compression project in Trinidad, Quad 204 in the UK, and the first phase of the West Nile Delta project, also in Egypt.

Bob Dudley, BP group chief executive, said: "We are proud to have worked with Eni, Rosneft and the Egyptian government to deliver a project that is strategically important for Egypt and will help meet the country's growing energy demand.

"This is also an important strategic milestone for BP, marking the completion of one of the biggest development programmes we have ever delivered in a single year. Seven new upstream projects around the world have been brought safely into production in 2017, on average under budget and on schedule. We're well on the way towards our goal of delivering 800,000 barrels a day production from our new projects by 2020."

The Zohr gas field was discovered by Eni in August 2015 and is estimated to have a total potential of up to 30 trillion cubic feet of gas in place. Eni through its joint venture Petrobel operates the Shourouk concession that contains the Zohr field. BP completed its purchase of a 10% interest in the concession from Eni in February 2017 and Rosneft purchased a 30% interest from Eni in October 2017.

Hesham Mekawi, Regional President, BP North Africa commented: "The development of Zohr in a record time has brought a new critical source of energy to the Egyptian market. BP's two other current major projects in Egypt – Atoll and the second phase of the West Nile Delta project – will bring further new gas resources into production. Together these projects will play an important role in supporting and reshaping Egypt's energy sector."

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Earlier:

 EGYPT'S ZOHR WILL COME
2017, December, 11, 10:05:00

EGYPT'S ZOHR WILL COME

Gas from Zohr will also help ease pressure on the economy of the most populous Arab nation, which has been plagued by a shortage of foreign currency since a 2011 uprising. Zohr, which Eni discovered in August 2015, has an estimated reserve of about 850 billion cubic meters of natural gas in place.

 

 СДЕЛКА ENI И РОСНЕФТИ
2017, October, 13, 12:35:00

ROSNEFT - ENI GAS DEAL

Rosneft closed the deal to acquire a 30% stake in the concessions agreement for the development of Zohr field, the largest gas field in the Mediterranean Sea, from Italian company Eni S.p.A.

 SAIPEM CONTRACT: $1.5 BLN
2016, July, 7, 18:00:00

SAIPEM CONTRACT: $1.5 BLN

Eni engineering and construction subsidiary Saipem on Thursday announced the award of offshore engineering and construction contracts with a combined value of more than USD 1.5 billion, including work related to the Zohr gasfield development project in Egyptian waters.

 

 ENI & CYPRUS COOPERATION
2016, July, 6, 18:00:00

ENI & CYPRUS COOPERATION

Eni is the operator of the giant Zohr field offshore Egypt, which is close to the boundary with Cyprus. It is due to start up in 2017, with domestic demand expected to account for some of the output.

 

 ENI DISCOVERS EGYPT
2015, August, 31, 18:55:00

ENI DISCOVERS EGYPT

Eni has made a world class supergiant gas discovery at its Zohr Prospect, in the deep waters of Egypt. The discovery could hold a potential of 30 trillion cubic feet of lean gas in place covering an area of about 100 square kilometres.

 

 
Tags: ZOHR, EGYPT

Chronicle:

BP: ZOHR HAS STARTED
2018, January, 19, 12:15:00

S.KOREA'S DIVERSIFICATION

PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.

BP: ZOHR HAS STARTED
2018, January, 19, 12:10:00

ADNOC'S 2030 STRATEGY

AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.

BP: ZOHR HAS STARTED
2018, January, 19, 12:05:00

TOSHIBA SELLS WESTINGHOUSE

WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.

BP: ZOHR HAS STARTED
2018, January, 17, 23:50:00

OIL PRICES: NOT ABOVE $70 YET

REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.

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