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FinancialNews


  • 30-07-18

    Eni to boost product capacity at Egypt's Zohr gas field

    (MENAFN) Italy's Eni has decided to raise the capacity of production at Zohr gas field in Egypt, reaching two billion standard cu ft per day (bscfd) with the start-up of the fifth treatment unit in September.

    Eni confirmed the fourth treatment unit to have been launched in record time, boosting installed capacity to around 1.6 bscfd.

    CEO of Eni Claudio Descalzi stated that "Eni recorded another period of strong profitability in the second quarter."

    The CEO added "in the context of a 38 per cent rise in the price of Brent, Eni reported a 152 per cent increase in operating profit, driven by the performance of the Exploration & Production business, which more than tripled its contribution."

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