Project Profile
Value: US$334 million
Location: Ras El Barr concession, 37 miles from Mediterranean coast of Egypt
Production: 4.8 million cubic metres of gas per day
Start-up Year: July 2012
Eni started production of gas from the offshore field of Seth, located in the Ras El Barr concession, approximately 37 miles (60 km) from the Mediterranean coast of Egypt. After an initial ramp-up phase, the field will produce approximately 4.8 million cubic metres of gas per day, of which Eni\'s equity 1.7 million cubic metres (approximately 11,000 boepd). The partners of the Ras El Barr license are Eni (50 percent), through its subsidiary IEOC, and BP (50 percent) as operator. The Seth project, whose construction and operations has been assigned by Eni and BP to Petrobel, a joint venture between IEOC and the Egyptian state company EGPC, consists of a platform placed at a water depth of 262 feet (80 metres), two production wells and a pipeline of 6.8 miles (11 kilometres). The pipeline links the platform to the onshore processing facility in El Gamil, which handles around 20 percent of the gas produced in Egypt, through the existing transport network. Eni operates in the country through IEOC, which directly executes the exploration activities and participates in the production activities through joint ventures with the Egyptian state company EGPC.
Operators:
BP: Operator with 50% interest
Eni: 50% interest