12-20-17 5:34 AM EST | Email Article
    By Christopher Alessi 
 

Italian oil and gas company ENI SpA (E) said Wednesday that it had begun producing gas from Egypt's offshore Zohr field.

Zohr, which is located in the Shorouk Block north of Port Said, was discovered in August 2015. The largest gas discovery ever made in Egypt, it could hold more than 30 trillion cubic feet of gas, ENI said.

The project "will completely transform Egypt's energy landscape...allowing it to turn from an importer of natural gas to a future exporter," ENI Chief Executive Claudio Descalzi said in a statement.

ENI holds a 60% stake in Shorouk Block, while Russia's PAO Rosneft and the UK's BP PLC (BP) own 30% and 10%, respectively.

 

Write to Christopher Alessi at christopher.alessi@wsj.com

 

(END) Dow Jones Newswires

December 20, 2017 05:34 ET (10:34 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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