Egypt will continue to require aid from its Gulf neighbors in 2016 but this year should see the foundations laid for a brighter 2017 following last August’s discovery of the 23 tcf Zohr field by Italian firm Eni.

Eni says that it plans to imminently begin drilling at Zohr after last week reaching an agreement with Cairo covering field development and gas sales. This will see Eni invest $12bn in drilling 20 wells planned over a 26-month period.

With first output ambitiously slated for...