The Egyptian government has approved Eni’s plans to lay the groundwork for developing the Zohr gas field, in the Shorouk Concession, offshore Egypt.
"The development plan envisages the start of production by the end of 2017, just two years after the discovery, with a progressive ramp up until reaching a volume of about (500,000 barrels of oil equivalent per day) by 2019," said the company in a statement.
Egypt is the largest oil producer in Africa. Last year the Egyptian government signed a framework that called for $5 billion in total investments in offshore Egypt.
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