Italian oil and gas giant Eni has made a “world class supergiant” gas discovery off Egypt at its Zohr Prospect, which could hold a potential of 30 trillion cubic feet of lean gas.
The discovery is the largest ever made in Egypt and Eni will now immediately appraise the field and fast track development.
Claudio Descalzi, Eni’s CEO, remarked: “It’s a very important day for Eni and its people.” Descalzi was in Cairo to update Egypt’s President and Prime Minister on the find.
Eni drilled to a total depth of approximately 13,553 feet and hit 2,067 feet of hydrocarbon column in a carbonate sequence of Miocene age with excellent reservoir characteristics, and Zohr’s structure has also a deeper cretaceous upside that will be targeted in the future with a dedicated well.
Bloomberg etc are already reporting that this probably casts a shadow over prospects for the Leviathan development since Zohr can supply that market. Not sure what the water depth is like and whether hydrate management technology will be needed. Anybody out there know?