Summary of Zohr gas field a game changer for the East Med:
1. Zohr Gas Field is located in the Shorouk concession, approximately 190 km north of Port Said in an area of 100 square meters (39 sq mi) and at a depth of 1,450 meters (4,760 ft).
2. The total gas in place of the Zohr gas field is around 850 billion cubic meters (30 trillion cubic feet).
3. In 2015, the field was discovered by the Italian energy company Eni. Eni sold stakes in the concession to Rosneft and BP in 2017; the field’s stakeholders now are Eni (60%), Rosneft (30%) and Belayim Petroleum (10%).
4. The quantities of gas extracted from Zohr gas field reached 17 percent since its operation, which means the quantities increased from 350 million cubic feet of gas to 400 million cubic feet of gas per day, according to a statement by Minister of Petroleum Mineral Resources Tarek el Molla.
5. By June 2018, an additional 700,000 cubic feet per day will be added to Zohr’s production.
6. Zohr is expected to provide the Egyptian economy with a significant boost estimated at $2.5 billion annually.
7. Around $12 billion was invested in the project.
8. Eni is anticipating that the field will produce 2.7 billion cubic feet per day by 2019.
9. Seven wells were drilled in the first phase of the project with investments of $6 billion, to be increased to 12 billion by the end of the project.
10. The new field will help secure energy needs of a country that consumes around 6 billion cubic feet of gas a day, with 65% going to the electricity sector.