ICEC

Russia’s Rosneft to invest over $2 bln in Egypt’s giant gasfield Zohr in 2018-2021

Russia’s largest oil producer Rosneft plans to invest more than $2 billion in Egypt’s massive Zohr gas field in the next four years, the company said in a presentation Tuesday.

It also said the production plateau at the field, where Rosneft may raise its stake to 35 percent, is seen at 29 billion cubic metres of gas a year.

The company also said it plans to start gas production in Zohr field in the coming months.

Source: Reuters

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