Thursday, September 13, 2018

Update On The Egyptian Zohr Natural Gas Field -- Said To Be The Biggest Gas Field In The Mediterranean -- September 13, 2018

From wiki:
The field was discovered in 2015 by the Italian energy company Eni and is the largest ever natural gas find in the Mediterranean Sea, almost twice the size of the nearby Leviathan gas field.
The total gas in place in the Zohr gas field is around 850 billion cubic metres (30 trillion cubic feet). If true, Zohr will almost double Egypt's gas reserves.
Earlier this year:
February 12, 2018: Turkish warships are impeding a rig from reaching a location of Cyprus where Italian energy company Eni is scheduled to drill for gas. -- from Twitter. Update from Reuters. Turkey is wearing out its "welcome" in the EU. Eni says it will produce 2.9 Bcf per day from Zohr field by second half of 2019. Compare that "2.9 Bcf" to the Bakken: from the last Director's Cut,
What was North Dakota's natural gas production in the most recent month, November, 2017? Yup, another all-time high: 2.1 billion cubic feet / day.
So, what's the latest on the Zohr field? From oilprice today:
The huge Zohr gas field offshore Egypt has increased its production six-fold since it started production in January this year.
Production at Zohr in the Mediterranean has increased to 2 billion cubic feet per day (bcfd) from 350 million bcfd when it began commercial production in January 2018.
Italy’s oil and gas major Eni—which discovered the field in 2015 when it said that it was the largest ever gas discovery in the Mediterranean—said last week that the Zohr field production of 2 bcfd is equivalent to approximately 365,000 barrels of oil equivalent per day (boed). Eni and its partners aim to reach plateau production in excess of 2.7 bcfd in 2019.
Egypt's / Eni's divisor: 365,000 boe / 2 billion cubic feet per day = 5,479. I generally use a divisor of 6,001. Motley Fool uses 6,000.

How does the Bakken compare with the Zohr?

June, 2018, data for North Dakota:
  • Natural gas: 2,300,103 MCF/day = 383,287 boepd
For newbies: the Bakken is an oil play, not a natural gas play. Natural gas, in the big scheme of things, has been a "hassle" for the oil operators, and a huge problem during the boom.

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