August 14, 2019 / 11:00 AM / 4 months ago

UPDATE 1-Rosneft says gas output at Zohr in Egypt surges to 11.3 bcm in H1

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MOSCOW, Aug 14 (Reuters) - Natural gas production at Zohr, the largest gas field in the Mediterranean Sea, more than tripled in the first half this year to reach 11.3 billion cubic metres (bcm), Russian energy giant Rosneft said on Wednesday.

The field is an important asset for Kremlin-controlled Rosneft in its global expansion strategy and natural gas production programme. Rosneft bought a 30% stake in the project from Italy’s Eni in 2017.

The company said daily gas output at the offshore project would reach 76 million cubic metres (2.7 billion cubic feet) by the end of the year from 68 million cubic metres currently.

“After the field’s start-up in December 2017, its development is going ahead of schedule,” Rosneft said in a statement.

Eni controls 50% of the project, while BP and Mubadala Petroleum each have a 10% stake in Zohr. (Reporting by Maria Kiselyova and Vladimir Soldatkin, editing by Deepa Babington and David Evans)

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