Eni has completed a deal settling differences over the Damietta LNG plant.
Eni intends to boost contracted LNG volumes to 14 million tonnes per year by 2024 and is in talks on entering Qatar Petroleum’s (QP) major expansion.
Poor gas demand may restrain Eastern Mediterranean production until 2023, GlobalData has warned.
Egypt’s Zohr field produced 5.1 billion cubic metres of gas in the first quarter, according to Russia’s Rosneft.
Eni has begun producing at two new wells in the Mediterranean Sea, Egypt’s Ministry of Petroleum has announced.
A deal has been reached allowing Egypt’s Damietta LNG plant to restart by June of this year, with Naturgy to drop out of the shareholding group.
Egypt has licensed a number of areas, including the award of around 7,000 square km to ExxonMobil in the offshore.
Egypt’s Zohr field is producing at around 3 billion cubic feet (85 million cubic metres) per day, the country’s Ministry of Petroleum has said.
Reporting success in Egypt’s Gulf of Suez, Eni has said it expects production to begin imminently.
Italian oil firm Eni swung back to profit last year after achieving record production levels.
BP was today celebrating after bringing its seventh major start-up on line this year.
Italian oil firm Eni is celebrating the start of production from the Zohr field off Egypt.
Rosneft has acquired a 30% stake in the Zohr field, the largest gas field in the Mediterranean Sea.
BP notched up second quarter pre-tax profits of £700million, rebounding from a £2.5billion loss a year ago.
Eni has completed the sale to BP of a 10% stake in the Shorouk concession offshore Egypt.
Rosneft has bought a stake in the biggest gas field in the Mediterranean Sea.
Eni is said to be in talks with a number of parties to reduce its stake in the giant Zohr gas fild offshore Egypt to 50%, according to its chief executive.
Eni said it has successfully preformed a production test on the first appraisal well of its Zohr discovery.