Italian energy company Eni has announced the discovery of the Zohr gas field, a “supergiant” natural gas deposit in the Mediterranean Sea, off Egypt’s coast. The field is expected to meet the country’s gas demand for decades.
Located in the Shorouk block, Zohr is estimated to hold 30 trillion cubic feet (5.5 billion barrels of oil equivalent) of lean gas, making it the largest gas discovery ever in Egypt and the Mediterranean and potentially one of the world’s largest natural gas finds.
Eni secured a 100% working interest in the Shorouk block in January 2014 after winning a competitive upstream licensing round and signing an agreement with Egypt’s petroleum ministry and state-owned EGAS.
While Eni has not disclosed specific plans for monetizing the reserves, the company emphasized that Zohr will play a crucial role in securing Egypt’s long-term energy needs.
To fast-track development, Eni plans to leverage existing offshore and onshore infrastructure to accelerate production.
Egypt, facing fiscal challenges and energy shortages, currently produces 4.4 billion cubic feet per day of natural gas—below its 4.7 billion cubic feet per day target.
To compensate, the government has imported LNG and established a floating storage and regasification unit to meet demand.
EGAS has also secured agreements with oil majors and trading firms for 108 LNG cargoes over the next five years.
The Zohr discovery is expected to reduce Egypt’s reliance on imports and strengthen its position as a regional energy hub.
