MOSCOW (MRC) -- More than 150 of the industry’s top executives, government officials, and regional experts met in Nicosia, Cyprus this week to discuss and share their perspectives on energy development in Cyprus and the Eastern Med. The region’s key leaders, involved in determining the natural gas policies of the Eastern Med, attended EMGC for two-days of in-depth discussions on the region’s latest developments, challenges and opportunities, as per Hydrocarbonprocessing.
The conference program was sponsored by Eni, Deloitte, and CyGas and hosted by World Oil, Gas Processing, Hydrocarbon Processing, Petroleum Economist, Pipeline & Gas Journal, and Underground Construction.
Eni and its partners are investing approximately USD12 billion in the field, which is the largest in the region with estimated gas in place of 30 trillion cubic feet. Zohr started production in December 2017, just two and half years after the discovery announcement, and it is expected to ramp up to 1 billion cubic feet per day by mid-2018.
After finalization of the development in 2019, the production volume will increase to an estimated peak of 2.7 billion cubic feet per day in 2020. With the Zohr field recently going into production, Egypt is planning to resume gas exports in 2019 and could become a major gas supplier for the region.
The official conference opening and welcome remarks were presented by Georgios Lakkotrypis, H.E. Minister of Energy, Commerce, Industry and Tourism for The Republic of Cyprus. EMGC 2018 featured keynote speakers: Luca Bertelli, Chief Exploration Officer, Eni and Symeon Kassianides, Chairman, The Natural Gas Public Company (DEFA).
As MRC reported earlier, in February 2018, Italy’s Eni and France’s Total discovered a promising natural gas field off Cyprus, Eni said on 8 February, saying the find looked geologically similar to the mammoth Zohr field off Egypt. Further analysis was required to determine the range of gas volumes and define further exploration and appraisal operations, Eni said.
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