The UK authorities on 17 December positioned Egypt’s flagship Zohr fuel area on a listing of initiatives exempt from sanctions on Russia. Russian state agency Rosneft holds a 30% stake within the undertaking, that’s operated by Italy’s Eni (50%) alongside UK main BP (10%) and Abu Dhabi state agency Mubadala Power (10%).
Zohr is producing round 1.4bn cfd at present, a far cry from its peak of two.96bn cfd in 1Q 2021, after it was in a position to stabilize output by means of two profitable sidetrack wells final yr (see p4). (CONTINUED – 171 WORDS)
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