Petroleum Africa
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Sunday, August 6, 2017
ENI’s CEO Claudio Descalzi, during a meeting with Egypt’s prime minister, Sherif Ismail, revealed that the Italian firm plans to invest some $3.5 billion in the country in 2018.
That $3.5 billion represents half of ENI’s planned investments for 2018.
The two also discussed the development of the Zohr field, which is set to add a significant stream of natural gas to Egypt’s production totals. Descalzi said the Zohr is expected to produce more than 500 Mmcf/d of gas by the end of this year.
Descalzi said that the Zohr development was 80% complete less than two years after the discovery was made, a record in the oil industry.
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