The Zohr effect
Hopes are high of fresh finds in the area
What a difference a day makes. When Eni announced the Zohr discovery in 2015, the whole complexion of the East Mediterranean play changed. By that time, for example, the Cyprus offshore had begun to lose its lustre. The Aphrodite field in Block 12, discovered in December 2011 with reserves of 5 trillion cubic feet of natural gas, remained (and remains) undeveloped. Total withdrew from Block 10, on the maritime border with Egypt in 2015, having given up hope of a commercial discovery, two years after being awarded the licence. But when the third Cyprus licensing round was held in 2016, international oil companies were eager to grab Block 10 and others near the Zohr field. "There's no doubt th
Also in this section
16 April 2025
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
15 April 2025
Loss of US shipments of key petrochemical feedstock could see Beijing look to Tehran with tariffs set to upend global LPG flows
15 April 2025
Australia’s East Coast Gas projections for a supply shortfall have been pushed further out, but the challenge to meet evolving gas demand and the shifting assumptions around the fundamentals remain just as stark
15 April 2025
Long-delayed prospects for onshore LNG production in Mozambique have improved thanks to US financing approval, but security challenges blight way ahead
