Rosneft jointly with partners (Eni, Project Operator, and BP) and the Egyptian oil and gas companies started up the third production unit of the Zohr project, increasing its maximum throughput capacity to 1.2 bln standard cubic feet per day. Rosneft says the production capacity of the Zohr gas field development project will thus go up by a factor of 1.5. The project is executed on concession terms with the Italian Eni S.p.A (60%) and the British BP (10%).
The third phase was put in operation only two weeks after the commissioning of the second phase (which doubled the capacity to 800 mln cubic feet per day) and five months after the start of production in Zohr field. The maximum production capacity of the field is expected to reach 2 bln cubic feet per day by the end of 2018. The plateau production of 2.7 bln cubic feet per day is to be achieved by the end of 2019.
In October 2017, Rosneft closed the deal to acquire a 30% stake in the concessions agreement for the development of Zohr field, the largest gas field in the Mediterranean Sea, from Italian company Eni S.p.A. Gas-in-place volumes of the field are estimated at 850 billion cubic meters. The field was discovered in 2015.
Participation in the development of such unique production asset will strengthen positions of Rosneft in the strategic markets of Europe and Middle East. Additionally, the companies will acquire significant experience in offshore field development during the project implementation.