Egypts Zohr gas field continues to be a "jewel in the crown" for Eni, according to CEO Claudio Descalzi in a statement about the companys 2017 results
The report said that start-ups and ramp-ups added 243 kboe/d on average over the last financial year, with Zohr in Egypt, East Hub in Angola, OTCP in Ghana and Jangkirk in Indonesia all strong contributors to this performance in 2017, alng with the acceleration of the Nooros project in Egypt.
Eni achieved production start-up at the Zohr plant in less than two years from the FID and two-and-a-half years from discovery.
Progress has also been reported in Mozambique with the dual exploration model in which Eni closed the divestment of a 25 per cent stake in Area 4 in Mozambique to ExxonMobil in the fourth quarter of 2017. The company has acquired new exploration licenses in Morocco, Cote d'Ivoire, Mexico, Cyprus and Norway.
Looking ahead to the rest of 2018, Eni is expecting three per cent growth in this financial year's production, driven by ramp-ups of fields entered into operation in 2017, mainly in Egypt, Angola and Indonesia, as well as the start-up of a number of satellites phases at giant producing fields in Libya, Angola and Ghana.
