San Donato Milanese (Milan), 28 June 2012 – Eni has started production of gas from the offshore field of Seth, located in the Ras El Barr concession, approximately 60 kilometers from the Mediterranean coast of Egypt.
After an initial ramp-up phase, the field will produce approximately 4.8 million cubic meters of gas per day, of which Eni’s equity 1.7 million cubic meters (approximately 11,000 boepd). The partners of the Ras El Barr license are Eni (50%), through its subsidiary IEOC, and BP (50%) as operator.
The Seth project, whose construction and operations has been assigned by Eni and BP to Petrobel, a joint venture between IEOC and the Egyptian state company EGPC, consists of a platform placed at a water depth of 80 meters, two production wells and a pipeline of 11 kilometers. The pipeline links the platform to the onshore processing facility in El Gamil, which handles around 20% of the gas produced in Egypt, through the existing transport network.
The development of this project is further evidence of Eni’s involvement in Egypt and its contribution to satisfying the growing gas demand in the country through the exploration and development of gas reserves in the Mediterranean Sea.
Eni is the leading foreign oil operator in Egypt with total operated production of approximately 236,000 barrels of oil equivalent per day in 2011. Eni operates in the country through IEOC, which directly executes the exploration activities and participates in the production activities through joint ventures with the Egyptian state company EGPC.