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Zohr Gas Field Development Project
This project involves development of the giant Zohr gas field in Egypt in the Mediterranean Sea and will be able to satisfy a part of Egypts natural gas demand for decades to come. Initial production is expected to start at a rate of 270 million cubic feet of gas a day in 2017. This is expected to increase to 2.7 billion cubic feet of gas a day over the following two years. The total reserves are estimated to be 30 trillion cubic feet. Italy's Saipem and Egypt-based Belayim Petroleum Company (Petrobel) have been selected as the main contractors. Value of the contracts have not been revealed. The two companies were nominated in cooperation with Egypt-based contractors ENPPI and Petrojet.