Egypt's Zohr Gas Field to Begin Production within Weeks after Drilling Resumed

An Egyptian flag flutters in Cairo, Egypt, January 15, 2023. REUTERS/Mohamed Abd El Ghany/File Photo
An Egyptian flag flutters in Cairo, Egypt, January 15, 2023. REUTERS/Mohamed Abd El Ghany/File Photo
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Egypt's Zohr Gas Field to Begin Production within Weeks after Drilling Resumed

An Egyptian flag flutters in Cairo, Egypt, January 15, 2023. REUTERS/Mohamed Abd El Ghany/File Photo
An Egyptian flag flutters in Cairo, Egypt, January 15, 2023. REUTERS/Mohamed Abd El Ghany/File Photo

Egypt's giant Zohr gas field will start production after resuming drilling within weeks, Prime Minister Mostafa Madbouly said on Thursday.

He also said that operator ENI had a plan to expand drilling in the next two years.

Production had been curbed because of arrears owed to foreign oil companies, Reuters reported.

A drilling ship arrived in Egypt in January as Eni began working on increasing production from the offshore field, Egypt's petroleum ministry said last month.

Average production at Zohr was 1.9 billion cubic feet per day (bcf/d) in the first half of 2024, well below a peak reached in 2019.



Lebanon Central Bank Signs Deal with US Risk Management Advisory Firm to Combat Illegal Activity

A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
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Lebanon Central Bank Signs Deal with US Risk Management Advisory Firm to Combat Illegal Activity

A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)
A view shows Lebanon's Central Bank building in Beirut, Lebanon January 12, 2023. (Reuters)

Lebanon's central bank signed an agreement on Monday with US risk management advisory firm K2 Integrity aimed at combating illegal activities and fraud, according to a statement.

The agreement is part of the central bank's efforts to come off the global financial crime watchdog FATF's "grey list" of countries under special scrutiny.

FATF placed Lebanon on the list last October.