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FINANCIAL NEWS
Italian Co. invests USD4bn in Zohr gas production plant
16 Aug 2016
(MENAFN) Italian oil firm-Eni invested USD3.5-4bn in applying the Zohr natural gas production processing plant at a capacity of 2.7bn feet of gas per day.
Accordingly, the whole investments in the field are estimated at USD12bn until the production starts, while investments will grow to USD16bn over the life of the field.
In addition, the firm is recently working in order to facilitate the production processes related to receiving and processing the gas in Port Said.
The Italian firm aims to link almost 900m cubic feet of gas per day with the national grid by the end of 2017 or in the first quarter of 2018.
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