MILAN (Reuters) – Eni is open to the sale of a portion of the maxi-gas field discovered in the Egyptian, as was the case for the project in Mozambique.
He said the CEO of the Italian oil group, Claudio Descalzi, in an interview with La Repubblica, commenting on the discovery of gas, called ‘supergiant’, at the well ‘Zohr 1X’ located at 1,450 meters depth d ‘water with a resource potential of up to 850 billion cubic meters of gas in place (5.5 billion barrels of oil equivalent).
This is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and can become one of the biggest gas finds in the world, satisfying the demand of Egyptian gas for decades, Eni said yesterday in a statement.
“It ‘an open door, to add value and stability to the financial statements of Eni,” says Descalzi answering the question on the possibility that the Italian group, which has 100% of the license of the field, can sell some.
“But will not necessarily so: here there is to spend less than in Mozambique, and the new gas will be mainly in the domestic market place, with prices well defined and disconnected from oil prices, now at minimum of six years” , he specified.
The CEO, also interviewed by La Stampa, stressed the particular strategic value since the discovery made in Egypt, where Eni has been operating for over sixty years, and where they can be exploited important synergy with the facilities present.
“For Egypt means the energy self-sufficiency, with all that this entails, including greater stability throughout the region. For Italy the opportunity to import a part of the gas that Egypt is not use “, explains Descalzi La Stampa.
In particore “a large quantity, but always complementary, may get directly in Italy by ship through the liquefaction plant in Damietta,” the Egyptian system is not currently in operation due to lack of gas, added the CEO in the Republic.
As for the time to market of new gas, Descalzi plans to obtain licenses for the development and production within a few months and the opening of the first wells next year.
“I expect that in fact the fruits see by the end of the 2015-2018 strategic plan,” he says.
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