This came after the visit of a high-level delegation of officials from the Italian company Eni to Egypt last Monday.
The Italian company Eni intends to drill two new wells in the Zohr field in deep Mediterranean waters with investments estimated at $160 million in the second half of 2024, according to a government official who spoke to Asharq Bloomberg.
This came after the visit of a high-level delegation of officials from the Italian company Eni to Egypt last Monday.
The government official added that Eni is currently working on an evaluation phase of research and development operations for the Shorouk concession area, in which the Zohr field is located.
The visit of the Eni delegation to Egypt and talk about increasing investments and drilling new wells comes after the Egyptian government paid $1.3 billion as a new batch of dues to foreign oil and gas companies operating in the country at the end of June.
Dues from foreign companies working in the field of oil and gas exploration and extraction to the Egyptian General Petroleum Corporation amounted to about $4.5 billion, according to an International Monetary Fund (IMF) report last March.
The average daily production of Zohr gas during the past six months reached two billion cubic feet and about 3,700 barrels per day of condensates.
Zohr field, the largest gas field in the Mediterranean, represents about 35% of Egypt’s current gas production, which averages 5 billion cubic feet per day.
