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Eni: first gas at Egyptian huge field

(CercleFinance.com) - Eni said on Wednesday that it has produced its first gas from the huge Zohr field, located offshore Egypt - approximately 190 km north of Port Said.

The Italian energy group said that the process has been completed "in a record time" for this type of field, with a development that lasted under two and a half years.

Discovered in August 2015, Zohr is the largest gas discovery ever made in the Mediterranean Sea.

The field - one of Eni's seven record-breaking projects - has a potential in excess of 5.5 billion barrels of oil equivalent, Eni said.

For the record, Eni holds a 60% stake in the block, Rosneft 30% and the remaining BP 10%.

Seperately, a judge at a court in Milan has decided to send the company, its chief executive and a number of managers on trial, charged with international corruption relating to the 2011 acquisition of a stake in a licence in Nigeria.

In a press release issued this morning, Eni said it had "full confidence" that chief executive Claudio Descalzi was not involved in the case.

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